{"id":70297,"date":"2024-01-30T13:31:48","date_gmt":"2024-01-30T17:31:48","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=70297"},"modified":"2024-01-30T13:47:29","modified_gmt":"2024-01-30T17:47:29","slug":"bitstamp-receives-27-7-million-xrp-token-transfer-from-ripple-labs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitstamp-receives-27-7-million-xrp-token-transfer-from-ripple-labs\/","title":{"rendered":"Bitstamp Receives 27.7 million XRP Token Transfer from Ripple Labs"},"content":{"rendered":"\n

Recently, Bitstamp received a significant transfer of Ripple Labs' cryptocurrency<\/a>, totaling 27.7 million XRP, or around $14.4 million. <\/p>\n\n\n\n

\"Bitstamp
Bitstamp Receives 27.7 million XRP Token Transfer from Ripple Labs<\/figcaption><\/figure>\n\n\n\n

According to Whale Alert data, the transfer came from a wallet that was not immediately identified. However, a deeper investigation by Bithomb Explorer\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> revealed that the wallet is connected to Ripple Labs and has a transaction history going back to February 2022. <\/p>\n\n\n\n

Consistent withdrawals from this wallet indicate that Ripple Labs uses it as its main financial asset management route.<\/p>\n\n\n\n

\n

\ud83d\udea8 27,700,000 #XRP<\/use><\/svg><\/span><\/a> (14,482,315 USD) transferred from unknown wallet to #Bitstamp<\/use><\/svg><\/span><\/a>https:\/\/t.co\/JmHPN5e6CS<\/use><\/svg><\/span><\/a><\/p>— Whale Alert (@whale_alert) January 28, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Ripple Labs frequently conducts large-scale transfers of this kind, especially considering its monthly escrow releases. The monthly escrow is intended to reduce worries about large-scale, uncontrolled XRP holdings<\/a> being released onto the market, which might cause price instability, and to guarantee XRP supply at all times. <\/p>\n\n\n\n

One billion XRP in total are issued from escrow each month. This gives the market and Ripple itself a steady supply. Although the precise objective of these minor transactions is still unknown, there is conjecture that the coins could be intended to improve operational liquidity. <\/p>\n\n\n\n

Additionally, the move hasn't significantly affected market sentiment<\/a> because XRP has performed well on the market. Over the past day, there has been a notable 83% increase in trading volume for the altcoin, accompanied by a 1% increase in its value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, Bitstamp received a significant transfer of Ripple Labs’ cryptocurrency, totaling 27.7 million XRP, or around $14.4 million. According to Whale Alert data, the transfer came from a wallet that was not immediately identified. However, a deeper investigation by Bithomb Explorer revealed that the wallet is connected to Ripple Labs and has a transaction history […]<\/p>\n","protected":false},"author":43,"featured_media":70299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1672,4487,146],"class_list":["post-70297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitstamp","tag-ripple-labs","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/croc_1706601870277.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/70297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=70297"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/70297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/70299"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=70297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=70297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=70297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}