Ripple Helps Move 60 Million XRP, Part Of It Goes to New ODL Corridor

Ripple Helps Move 60 Million XRP, Part Of It Goes to New ODL Corridor

Ripple distributed ledger tech provider and the most regulator-battered at the moment crypto exchange Binance have transferred a whopping 60 million XRP, according to the data provided by Whale Alert.

60 million XRP shifted by Ripple and Binance

Whale Alert has tweeted that over the past fourteen hours Ripple crypto behemoth worth over $10 billion and the Binance exchange have made two transfers on the XRP ledger.

Binance has sent 50 million XRP ($61,613,496 USD) to China-based Huobi. Ripple moved the remaining 10 million XRP tokens to the Coins.ph crypto trading platform based in the Philippines.

The transaction was made via one of Ripple’s wallets - RL43-EE.

Recently, U.Today covered that the San-Francisco-based fintech giant Ripple set up a new On-Demand Liquidity corridor for remittances from Japan to the Philippines. It allows users to convert yen first to XRP and then to the Philippine peso.

ODL (formerly known as “xRapid” and rebranded not long ago) allows conducting cheaper remittances, thus solving the problem for many countries, including Japan.

The partner of Ripple’s partner finance group SBI in Japan for this in the Philippines has been chosen a local crypto exchange Coins.ph.

The total amount of XRP transferred by Binance and Ripple constitutes $73,685,004 in fiat.

Ripple declines to $1.20

On Saturday, August 14, the sixth largest crypto affiliated with Ripple, XRP, demonstrated a massive surge to the $1.33 level, rising 24.57 percent.

According to the data shared by the Santiment team, this price action was triggered by a rise in XRPL development activity on Github.

By now, however, the coin’s price has gone down, and XRP is changing hands at $1.2 per token.

The XRP community, however, remains optimistic as XRP has managed to remain above the $1 line since August 12.

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