Close to 64 million XRP tokens have been shoveled to these major crypto exchanges
News Fri, 10/13/2023 – 12:27
64 million XRP on move, here’s who stands behind this
According to recently published tweets by the aforementioned tracking service, chunks of 31,200,000 XRP and 32,600,000 XRP have been transferred to crypto exchanges Bitstamp (located in the EU) and Bitso (crypto unicorn based in Mexico, the largest crypto exchange in Latin America).
Aside from the possibility of Ripple selling these large amounts of XRP, there is another possible explanation. Bitso and Bitstamp are among the platforms that collaborate with Ripple on ODL, its On-Demand Liquidity solution that utilizes XRP for instant cross-border payments. Recently, Ripple decided to rebrand ODL into simply “Ripple Payments” to make it easier for outsiders to understand.