Ripple Makes Plans To Sell Millions In XRP To Institutional Players While $71 Million In ETH Gets Moved

Ripple joins Blockchain Capital VC Fund with XRP investment worth $25 million price


According to recent information from cryptocurrency whale watchers, Ripple, the parent company of XRP, is making plans to sell millions of XRP to institutional investors. At the same time, $71 Million in ETH was captured being moved by crypto whale watchers. This transfer happened on the cryptocurrency exchange Bitfinex. According to the whale watchers the ETH was moved in five different transactions. The first was 75,426 ETH which is equivalent to $11.48 million. The second transaction was 88,657 ETH which is equivalent to $13.49 million. The third was 88,877 ETH which is equivalent to $13.52 million. The fourth was 124,388 ETH which is equivalent to $18.92 million and the fifth was 92,652 ETH which is equivalent to $14.08 million.


Ripple Sells XRP To Institutional Investors


On another note, Ripple recently moved XRP worth $755 million. A large portion of this amount was sent to escrow while the rest was sent to the company’s OTC trading wallets. This is no surprise as Ripple owns 60 percent of all the XRP in circulation and sells some to institutional investors from time to time.


XRP (XRP) Price Today – XRP / USD
Name Price24H (%)
XRP (XRP)
$0.310807
0.04%


Over the past two days, Ripple has moved millions to its OTC wallets. It is from these wallets that it will sell to institutional investors. So far, the amount is $23.5 million in XRP. Whale Alert, the official handle for whale watchers picked up this large volume transactions and reported it. On the Twitter handle, they posted:
“16,511,121 #XRP (6,163,817 USD) has been transferred from an unknown wallet to Ripple OTC Distribution wallet”
Shortly after, the same handle posted:

“18,695,552 #XRP (6,998,621 USD) has been transferred from Ripple’s OTC distribution wallet to an unknown wallet”
The next alert was for 8,917,085 #XRP which is equivalent to 3,338,083 USD sent to an unknown wallet from Ripple’s OTC Distribution wallet while the last was for 20,000,000 #XRP which is equivalent to 7,241,589 USD sent to Ripple’s OTC Distribution wallet from an unknown wallet.


A few months ago, Ripple released its Q4 report for 2018 in which it stated that its sales of XRP doubled thanks to the rise of institutional buyers. After selling $73.53 million in Q3, they were able to successfully sell $163.33 million in Q4.


Ripple (XRP) And Ethereum (ETH) Price Analysis


Right now, XRP is trading at $0.357311. This shows that it is down by 1.75% against the USD and down by 2.09% against Bitcoin. The trading volume over a 24 hour period is $463,677,763 and the market capitalization is $14,576,192,965.


Ethereum (ETH) Price Today – BTC / USD
Name Price24H (%)
Ethereum (ETH)
$136.70
0.31%


Ethereum (ETH) is trading at $157.65. This shows that it is up by 1.10% against the USD and up by 0.75% against BTC. The trading volume over a 24 hour period is $3,419,495,926 and the market capitalization is $16,427,181,903. The next few days of trading will determine if the price action will change or not.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.