144,300,000 XRP Suddenly Hits Market, Here Are Big Players Behind This

Prominent blockchain sleuth Whale Alert, which monitors large cryptocurrency movements, has spotted two crypto transactions, carrying a massive XRP chunk each. Altogether, more than $350 million worth of XRP have been transferred.

These transactions took place as the fourth largest digital currency, XRP, began to recover today after the 4.46% decline faced over the past day.

$353.1 million in XRP transferred by hidden giants

The aforementioned data source detected two hefty transfers – 50,000,000 XRP and 94,326,840 XRP. Those XRP lumps were equal to $120,386,319 and $232,800,834. The first one took place five hours ago, and the other one occurred on Thursday.

While in both cases, Whale Alert tagged the sender and receiver wallets as anonymous, additional data shared by XRPscan says that 50,000,000 XRP was transferred by the San-Francisco-based blockchain giant Ripple, while the 94,326,840 XRP chunk was moved by major cryptocurrency exchange Crypto.com. In both of these cases, the receiver wallets were not linked to any exchange.

However, in the past, Ripple moved large amounts of XRP either to centralized exchanges or to OTC platforms to sell millions of XRP. The crypto behemoth regularly sells XRP to use the converted fiat for covering its operational expenses and supporting XRP liquidity on the market.

Ripple burns four million RLUSD

On Wednesday, May 14, Ripple conducted two large burns of its recently launched RLUSD stablecoin. Two days ago, Ripple Stablecoin Tracker (@RL_Tracker) spotted 3,000,000 and 999,999 RLUSD burned in the Ripple Treasury. Both burn transactions were made on the Ethereum blockchain.

Ripple has taken a pause in minting new RLUSD coins since the most recent emittance took place on April 25, when the Ripple Treasury created three RLUSD chunks: 15,000,000; 11,500,000 and 11,500,000 RLUSD.