Ripple XRP whale movement shake communityIn a recent Bitstamp move millions of XRP were moved by what appeared to be a Ripple XRP whale, setting aftershocks within the community. Ripple XRP whale figures are notoriously famous for pump and dump allegations and the Whale Alert reports on all heavy movement.
Various blockchain-based transactions have been registered by the Whale Alert account, as 800 million XRP has been transferred to unspecified wallets, from the Bitstamp exchange. The transactions were performed within thirty (30) minutes.
A total of three transactions followed, which included a transaction of 200 million XRP, a transaction of 50million XRP, and a transaction of 150 million XRP.
Ripple XRP whale was just scheduled Bitstamp move
The community may be in luck this time since the Ripple XRP whale alert turned out to be a preplanned move by the exchange Bitstamp.
Everything is proceeding as we announced here: https://t.co/AUQXs5j4EM
— Bitstamp (@Bitstamp) October 28, 2019
The exchange Tweeted under the Whale Alert post thread explaining the situation is normal. The comment includes a link to an announcement of BitGo providing security crypto storage for the exchange.
ℹ️ According to #Bitstamp, the recent #XRP transfers (total of 1.2 billion) are part of new secure storage provided by #BitGo.https://t.co/A6clmuvgME
— Whale Alert (@whale_alert) October 28, 2019
Recently, Ripple hired one of the former executives of Bank of America as the Head of American Regulatory Affairs. Ripple is striving to negotiate with the United States lawmakers, especially with its recent move of opening an office in the country’s capital.
Brad Garlinghouse, the Chief Executive Officer (CEO) of Ripple, has stated that MoneyGram’s Head advised that the company should not waste any time with the application of On-Demand Liquidity, along with XRP usage in the new digital markets.
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