JAKARTA – Cross-border payments company Ripple along with a number of leading crypto trading platforms have reportedly moved tens of millions of XRP in the last 15 hours. A total of 115.3 million XRP was transferred to the On-Demand Liquidity (ODL) platform.
A total of 70 million XRP shipped twice. The first shipment amounted to 50 million XRP, and the second transaction amounted to 20 million tokens. According to a U.Today report, one of Ripple's backup wallets—RL18-VN—was involved in both transactions. It was aimed at sending 50 million XRP and, from there, 20 million coins were sent to Coins.ph, a Ripple-powered ODL platform operating in the Philippines.
The remainder of the aforementioned amount of XRP is sent from Bittrex to Bitstamp (30 million coins) and via the Coinone exchange (15,335,267 XRP). The total amount of XRP sent by Ripple and exchanges is worth US$74,814,502 million (approximately Rp1.1 trillion) in fiat.
Ripple CEO Brad Garlinghouse stated that 2022 has seen the biggest growth for Ripple outside the US, with the company hiring many new employees.
Ninety-nine percent of Ripple's customers are based outside the US, according to the interview. Even so, Ripple's feud with the Securities and Exchange Commission (SEC) is still pending.
Commenting on the court case, Garlinghouse stated that the notion that XRP was a security was misguided. He further stated that the feud with the SEC is not only about Ripple but is related to the entire crypto industry.
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