Ripple Sends 220,303,137 XRP to Crypto Exchange Bitstamp As Bitcoin Whales Move 6,200 BTC

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A big transaction from the San Francisco startup Ripple is turning heads among crypto traders.

The company moved 220,303,137 XRP worth about $49.2 million on Monday. The XRP was sent to the Luxembourg-based exchange Bitstamp.

🚨 🚨 🚨 🚨 220,303,137 #XRP (49,277,247 USD) transferred from Ripple OTC Distribution wallet to #Bitstamp

Tx: https://t.co/6Ouc4ZQIxy

— Whale Alert (@whale_alert) December 11, 2019

Ripple owns more than half of the total supply of XRP and sells portions of its holdings over-the-counter to exchanges and institutional players on a routine basis.

The company says its sales of XRP decreased 74% in the third quarter of this year, from $251.5 million to $66.2 million.

Meanwhile, Bitcoin whales are surfacing in relatively small numbers as the price of BTC trades sideways.

Over the last day, some of Bitcoin’s biggest holders have moved a total of 6,200 BTC worth about $44.5 million.

Two of the transfers involved crypto moving from unknown wallets to a crypto exchange, where they could be sold on the open market. The remaining two transfers sent BTC from crypto exchanges to unknown wallets.