Ripple giant has conducted another massive XRP transaction to Bitstamp exchange to sell crypto
Popular crypto tracker Whale Alert has shared the details of yet another large XRP transfer made by Ripple Labs giant to the Bitstamp crypto exchange on the X app.
Several members of the XRP community left comments under that X post, showing that these unexplained transactions from Ripple to this major exchange seem to be disappointing since nothing is happening to the XRP price.
According to data shared by Whale Alert and details of the transaction provided by Bithomp XRP-centered analytics platform, Ripple fintech behemoth transferred 30,700,000 XRP to Bitstamp to sell. This is the equivalent of $15,037,735 in fiat.
One XRP fan wrote in the comments thread: “Nothing will happen as always,” showing his disappointment. Another user assumed that Ripple is dumping its XRP coins.
Quite a few scam XRP tweets have been also noticed among the comments, starting traditionally with “why is no one commenting on this?”
Over the past couple of months, Ripple has been conducting several transactions of more-or-less similar size, ranging from 29,000,000 to 31,000,000 XRP. The destination has so far always been Bitstamp, but no explanation has been provided by Ripple. Therefore, these could be ordinary XRP sales. Otherwise, these transfers can move XRP to its ODL since Bitstamp provides a platform for it.
Earlier today, X user Chad Steingraber tweeted that Ripple has perhaps been rebranding its ODL (On-Demand Liquidity) service as simply a “payments solution.” This is what ODL is now referred to on the website of the company.
No official comment has been provided from Ripple about it either.
Source: https://u.today/xrp-army-reacts-to-another-mysterious-ripple-transfer-of-xrp-to-bitstamp