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Whale sends 25 million XRP to Bitstamp

2020.06.19

According to research by Whale Alert, McCaleb has sold more than one billion XRP almost exclusively through Bitstamp since 2014. In this respect, it seems obvious that McCaleb is once again responsible for the current Whale transaction, but there is no evidence for this. Within the XRP community a massive transaction of 24.99 million XRP tokens is currently causing a stir. According to Whale Alert, an automated blockchain data tracker, 24,999,995 XRP worth $5.2 million were sent to the European crypto exchange Bitstamp by an unknown wallet.

An analysis of the origin of the XRP tokens also shows that they were activated by BitGo in August 2019 and were held in the wallet. In addition, the wallet sent XRP tokens to Bitstamp several times last year. This in turn could also speak for Ripple as the origin. Bitstamp was one of the first Ripple Gateways and the first partner in Ripple’s incentive program.

Most recently, both entered into a partnership for the XRP based On-Demand Liquidity (ODL) payment solution. In addition, Ripple itself had sent 220,303,137 XRP worth $49.28 million to Bitstamp in December, although Ripple also stated in its last quarterly report that it had .Nevertheless, Ripple’s XRP sales are suspected by the community to increase selling pressure on XRP, forcing investors to sell XRP.

Author : Jake Simmons