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Tens of millions of XRP have been transferred to the Bitstamp exchange while XRP is striving to recover after the recent correction

Popular crypto tracker Whale Alert has detected a big XRP transfer made from an anonymous wallet to the major Bitstamp exchange.

This transaction carried 23,100,000 XRP evaluated at a massive amount in fiat – $15,986,066. The crypto tracker marked the sender wallet as “unknown” but the XRP explorer Bithomp revealed that this is a wallet related to Ripple Labs fintech titan based in San Francisco.

The transfer was made to the Bitstamp exchange which is one of the platforms collaborating with Ripple on the so-called ODL corridors. ODL stands for On-Demand Liquidity, a service based on RippleNet network which leverages XRP for fast and low-cost international fund transfers.

Just recently, ODL has been rebranded as Ripple Payments for better clarity for outsiders. Just recently, Ripple spread the word in its blog that its payments service now covers more than 70 markets in various corners of the globe.

A new partner in this sphere was also announced – Onafriq. This is a fintech company that will help Ripple build a new payments corridors between Africa and the Gulf Cooperation Council, the UK and Australia.

XRP is currently trading at $0.62269 after correcting by 5.88% over the past two days as XRP fell from the recently achieved peak of $0.72.

About the author

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

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