Ripple Moves $226,000,000 in XRP As Bitcoin (BTC) Whales Transfer $168,000,000 in Crypto


Ripple just moved nearly a quarter-billion dollars worth of XRP to kick off the month of May.

The San Francisco fintech startup transferred 1,000,000,000 XRP from its escrow wallets to three separate wallets owned by Ripple.

In addition, Ripple sent 55,079,321 worth $11.8 million to its co-founder Jed McCaleb as part of a settlement process negotiated after he left the company back in 2013.

? 55,079,321 #XRP (11,865,434 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet

Tx: https://t.co/NpEDS87aXh

— Whale Alert (@whale_alert) May 1, 2020

In total, the dollar value of the XRP Ripple sent across the ledger is just over $226 million at time of publishing.

Ripple, which owns more than half the total supply of XRP, unlocks XRP from escrow every month, making the funds available to sell to third parties. The company recently published its latest quarterly report showing it sold $1.75 million of the digital asset in the first quarter of this year.

Bitcoin whales are also busy as the week comes to a close, moving a total of 19,254 BTC worth $168 million. Ten of the transfers moved crypto from an exchange to an unknown wallet and eight sent crypto from unknown wallets to an exchange. The remaining three transfers were from one crypto exchange to another.

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Ripple Moves 226000000 in XRP As Bitcoin BTC Whales Transfer - Ripple Moves $226,000,000 in XRP As Bitcoin (BTC) Whales Transfer $168,000,000 in Crypto

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Featured Image: Shutterstock/Tithi Luadthong

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