- An anonymous whale shifts $15 million in XRP during a 4.45% surge at Bitstamp.
- Ripple’s consistent large XRP transfers to Bitstamp and Bitso aim to bolster liquidity.
- Monthly 200 million XRP injections have minimal price impact due to locked reserves.
During a weekend surge in XRP’s value, an anonymous whale made a significant move, transferring over $14.9 million worth of XRP to Bitstamp. The surge in XRP’s price, clocking in at 4.45%, coincided with this substantial transfer, indicating heightened market activity.Read CRYPTONEWSLAND on google news
This notable transaction took place as XRP experienced a surge in its value over the weekend. Whale Alert, a prominent crypto tracking bot, flagged this substantial movement, detecting a whopping 24,200,000 XRP transferred to the Bitstamp exchange, equivalent to $14,918,529. This substantial shift occurred while XRP’s price surged from $0.61269 to $0.63999.
Interestingly, this transaction fits into a larger pattern of Ripple consistently transferring substantial amounts of XRP to Bitstamp and Bitso, another exchange based in Mexico. Ripple’s strategic transfers aim to enhance liquidity within the ecosystem, supporting its On-Demand Liquidity (ODL) system, now rebranded as “Ripple Payments.” Over the past three months, Ripple has routinely sent 30 million XRP chunks to Bitstamp weekly, often complemented by similar-sized transfers to Bitso.
Part of Ripple’s strategy involves releasing a billion XRP from escrow each month while redistributing about 800 million XRP back into reserves for new monthly releases. Despite injecting 200 million XRP monthly into the market, the impact on XRP’s price remains minimal due to the locked reserves.
This consistent movement of substantial XRP volumes suggests Ripple’s commitment to strengthening liquidity and fostering use cases for XRP, a strategic move to ensure its long-term sustainability.
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