According to the analytical data provided by XRPL Monitor, Ripple transferred $ 166,5 million XRP worth $ 32,533,317 in transactions involving Bithumb, its partners and South Korea’s largest crypto exchange.
Ripple’s XRP Transfers
Following the transactions in the XRP book, the XRPL Monitor account noticed that the XRP was moved in bulk. 20 million XRP was carried by the RL18-VN wallet, which is related to Ripple and allegedly may be one of the XRP escrow addresses.
One of the transactions involving 10 million XRP was sent to Bitstamp, the cryptocurrency exchange that hosted Ripple’s European ODL corridor. According to data provided by the analytics website Bithomp, Bitstamp has moved 5.2 million XRP between its wallets.
Bithumb and Anonymous Wallets Send 129 Million XRP
Bithumb, the largest cryptocurrency exchange in South Korea, carried 46 million XRP ($ 9,004,408) among its wallets. Also, 83 million XRP and 30 million XRP from an anonymous address were sent to a wallet activated by Ripple.
New ODL Corridors Coming
Asheesh Birla, senior manager of Ripple, published an article about Ripple’s ODL product and its role in the modern world affected by the crisis. In one article, he noted that the current economic decline caused by the Federal Reserve’s constant quality control and pandemic makes high speed and low fees very important for transnational payments.
Since family members working abroad must send money home, quarantine measures in many parts of the world make these qualities very important. With this in mind, Birla shared the news that Ripple plans to create more ODL corridors this year.