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Ripple Labs and Top Whales Move 218 Million XRP Tokens Worth $81 Million in Six Transactions

Ripple Labs and top whale addresses have moved 218 million XRP tokens in six transactions, valued at approximately $81 million. The transactions were reported by Whale Alert, with 168 million XRP moved across five transactions by XRP whales. Ripple also moved 50 million XRP tokens on May 9, which were part of assets recently released from escrow protection.

Despite Twitter users speculating that Ripple was dumping the asset, an attorney supporting Ripple negated the impression, stating that Ripple buys many XRP tokens for other transactions to meet its growing ODL demand. XRP is experiencing price volatility as it seeks to mount a price recovery, with its trading volume down over 20% today.

XRP XRP $0.52
-0.74%
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