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Ripple sells XRP to institutional investors
In another note, Ripple recently moved XRP worth $ 755 million. A large part of this sum was sent as collateral while the rest was sent to the company's OTC business portfolios. This is not surprising since Ripple owns 60 percent of all XRPs in circulation and sells them from time to time to institutional investors.
Over the past two days, Ripple has transferred millions to its OTC portfolios. It is from these portfolios 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 collected these large transactions and reported it. On the handle of Twitter, they have published:
"16.511.121 #XRP (6.163.817 USD) was transferred from an unknown portfolio to the Ripple OTC Distribution portfolio"
Shortly thereafter, the same published handle:
"18.695.552 #XRP (6,998,621 USD) was transferred from Ripple's OTC distribution portfolio to an unknown portfolio"
The next warning was for 8.917.085 #XRP which is equivalent to 3.338.083 USD sent to an unknown portfolio from the OTC Distribution portfolio of Ripple while the last one was 20.000.000 #XRP, equivalent to 7.241.589 USD sent to the OTC Distribution portfolio of Ripple from an unknown portfolio.
A few months ago, Ripple published its Q4 report for 2018, which stated that sales of XRPs had doubled thanks to the increase in institutional buyers. After selling $ 73.53 million in the third quarter, they were able to sell $ 163.33 million in the fourth quarter successfully.
Price analysis of Ripple (XRP) and Ethereum (ETH)
Ethereum (ETH) is trading at $ 157.65. This shows that it is up 1.10% from the US dollar and up 0.75% from 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 trading days will determine if the price action will change or not.
