Transactions Increase, Tens Of Millions Of XRP Found Sent To This Crypto Exchange, A Sign Will Re-listing?

Kripto Ripple XRP. (QuoteInspector)

JAKARTA – The movement tracker of most crypto owners, Whalestats detects transactions of millions of XRP. Tens of millions of XRP were sent to unknown wallets. Delivery is carried out in three stages.

The Whale tracker detected 60 million XRP being sent to an unknown crypto wallet on the Bitstamp crypto exchange. For information, former Ripple executive Jed McCaleb often sells XRP on the Bitstamp crypto exchange.

Then around 40 million XRP was sent to the Mexico-based crypto exchange Bitso. This transaction is done from the same unknown wallet. Then, 65.54 million XRP was transferred from the Bitstamp address to another unknown wallet.

In total, 165.54 million XRP tokens were transferred, which is worth US$55 million (or around IDR 825 billion). It is not known at this time whether the shipment of more than a hundred million XRP was intended for the two crypto exchanges or not.

Launching U.Today, this is an unusual transaction as happened last week. Is this XRP transaction really that confusing? Bitstamp and Bitso are some of the most well-known cogs in Ripple's ODL mechanism and, on the whole, there is nothing unusual about their presence in this transaction chain.

Instead, similar deals have been seen before with these two venues. However, previous large deals have never been preceded by such a strong increase in XRP trading volume.

As per the latest information, blockchain solutions and cross-border payments company Ripple recently entered into a partnership with a leading fintech company from Singapore, FOMO Pay.

On the other hand, Ripple's feud with the US Securities and Exchange Commission (SEC) continues. In the latest report, the court urged the SEC to release documents containing William Hinman's speech called XRP security in 2018. However, until now the SEC is still covering up the document.