A substantial transfer of 25 million XRP, valued at approximately $15.5 million, was tracked moving into the cryptocurrency exchange Bitstamp today. This movement was highlighted by Whale Alert, a service that monitors large cryptocurrency transactions.
The sender of this significant amount of XRP has been linked to ‘s On-Demand Liquidity (ODL) service, according to comments from the Twitter account @XRPwallets and data provided by Bithomp. Bitstamp is known to support Ripple Payments, which was previously referred to as ODL. This service is utilized for facilitating international money transfers across over 70 markets.
Over the preceding weekend, John Deaton, the founder of Crypto-Law.US, shared his perspective on the timing for investing in XRP. His insights came against the backdrop of market excitement, which included reactions to a now-debunked rumor about a BlackRock (NYSE:) ETF and a July ruling by Judge Analisa Torres that favored Ripple regarding the legality of its XRP sales. Deaton advised investors to consider acquiring XRP before potential FOMO-induced price surges occur, suggesting a strategic approach to investment in the cryptocurrency.
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