Ripple Giant Shovels 75 Million XRP, Here’s Destination

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Data shared by the popular blockchain tracker Whale Alert less than an hour ago says that leading fintech Ripple Labs made a large transaction of XRP tokens, moving them to an anonymous digital wallet.

The XRP sum in question is 75,000,000 worth $35,400,652 USD. Whale Alert shared the data in its Telegram channel. Details provided by the XRP-focused Bithomp platform show that the funds were sent from a RL92-MN wallet that belongs to Ripple Labs.

The destination wallet is also linked to Ripple, according to the same website. The same tracker shows that on July 1, this wallet received 200,000,000 XRP from Ripple.

On June 29, 100,000,000 XRP also came from it from the same sender.

Ripple has stuck in the legal case that the SEC started against it in December 2020. As a result, many exchanges, including Coinbase and Binance US decided to suspend XRP trading and the exchange rate of the Ripple-affiliated coin against USD faced a sharp drop.

However, at the start of the year, during the Davos event, Ripple chief Brad Garlinghouse said in an interview that he expects the case to be over this year, maybe even in the first half of it.