An amount close to 220 million XRP has been shifted to the Bitstamp crypto exchange, the transfer totals $123.6 million in fiat
Popular blockchain tracking platform Whale Alert has reported that over the past sixteen hours, two tranches, totalling almost 220 million XRP tokens were made to the Luxembourg-based Bitstamp crypto exchange.
This amount of crypto is worth a whopping $123,587,256 at the current XRP exchange rate.
219.3 XRP on the move to Bitstamp
According to Whale Alert, Bitstamp first received 19,289,920 XRP (equal to $10,826,389) and a short while later it received a tranche of 200,000,000 million XRP tokens (totalling $112,760,867).
Details of the transactions provided by the Bithomp analytics platform show that both time the transfers were made by the US-based crypto exchange Uphold.
Earlier, U.Today reported that 84.3 million XRP was moved by Bybit to Binance and Coinbase crypto heavyweight shifted 83 million XRP coins between its wallets.
Bitstamp is in the line of XRP suspenders
Binance US, Bitstamp and Coinbase are among the major crypto trading venues that suspended XRP trading in January this year after the SEC pushed a lawsuit against Ripple Labs, accusing it of selling unregistered securities (referring to XRP) to institutional investors since 2013 and having made over $1.2 billion on those sales.
Along with Ripple Labs itself, the defendants in this suit are Bradly Garlighouse (Ripple CEO) and the company co-founder and former chief executive Christopher Larsen.
The other co-founder, Jed McCaleb, who was first Ripple’s CTO but then left in 2013 over discrepancies with Larsen and has since then been receiving 8 billion XRP as a compensation.
In 2014, McCaleb founded Stellar – a rivalling company to Ripple Labs, with XLM as a native token. The companies are chasing similar goals – to transform remittance and payments for banks and other financial institutions.
Stellar has become interested in acquiring the former Ripple partner – US-based remittance giant MoneyGram, adding a bit of irony to this rivalry.
MoneyGram suspended its partnership with Ripple that had lasted for almost three years after the SEC announced its lawsuit against Ripple and after that terminated the collaboration agreement completely.
Ripple, in its turn, disposed of all the MoneyGram stocks it held.
XRP approaches $0.6
At the time of writing, the six-ranked top cryptocurrency XRP is changing hands at the $0.57 level, approaching $0.6 after dropping to $0.52 on July 20, according to the data provided by CoinMarketCap.