90 Million XRP Coins Transferred from an Unknown Wallet to Bitstamp

XRP, like other digital currencies, is experiencing a severe correction as demand for retail and institutional cryptocurrencies declines. On the other hand, large XRP transactions have increased since the beginning of April 2022.

While most transfers result in XRP tokens being transferred to exchanges, certain crypto giants have started sending large volumes to large crypto trading platforms. Whale Alert recently saw one of these transfers. A crypto whale account submitted 90 million XRP tokens to Bitstamp on Friday, April 15, 2022.

The transfer took place at 9:41 a.m. UTC and was worth about $70 million. Earlier last month, a prominent cryptocurrency wallet sent $32 million worth of 40 million XRP to Bitstamp. In March, Whale Alert reported on a 35 million XRP transfer from FTX to a crypto wallet.