BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Ripple’s Ambitious Expansion Shakes XRP Amid $16M Transfer

BlockNews.com Team by BlockNews.com Team
November 8, 2023
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 3 mins read
#image_title

#image_title

6
SHARES
98
VIEWS
Share on XShare in TelegramShare on Reddit
  • Ripple Labs transferred nearly 16 million XRP worth $15.9 million to Bitstamp amid a market correction, per data from Whale Alert and Bithomp’s XRP explorer.
  • The same day, Ripple announced expanding Ripple Payments to over 70 markets globally and partnering with Onafriq to enhance cross-border transactions between Africa, GCC, UK and Australia.
  • While volatility continues amid broader crypto market fluctuations, Ripple seems committed to increasing XRP’s utility and adoption for global financial transactions through initiatives like Ripple Payments and partnerships.

Ripple Labs, the company behind the XRP cryptocurrency, recently transferred a significant amount of XRP to the cryptocurrency exchange Bitstamp. This article examines the details of the transfer, market conditions at the time, and the potential impact on XRP adoption.

🚨 NEWS: Ripple Labs transfers $16M worth of $XRP to Bitstamp.

This coincides with Ripple's recent partnership with Onafriq and expansion to over 70 markets. pic.twitter.com/LQKjfSSuwF

— BlockNews.com (@blocknewsdotcom) November 8, 2023

The Transfer

  • On November 7th, Ripple Labs transferred 15,986,066 XRP worth around $15.9 million to Bitstamp according to data from Whale Alert and Bithomp’s XRP explorer.
  • The transfer took place amid a broader market correction in the volatile cryptocurrency sphere. After reaching a high of $0.72, XRP’s value dropped 5.88% to $0.62269 on November 8th.

Ripple Developments

  • On the same day as the XRP transfer, Ripple Labs announced a major expansion of Ripple Payments (formerly ODL), extending its reach to over 70 markets globally.
  • Ripple also revealed a new partnership with Onafriq, a digital platform facilitating international money transfers. This will enhance cross-border transactions between Africa, the GCC, the UK, and Australia.

The Road Ahead

  • The Bitstamp transfer and Ripple Payments expansion indicate Ripple’s ongoing efforts to increase XRP’s utility and adoption for global financial transactions.
  • The Onafriq partnership is expected to further this goal by improving international money flows in key regions. However, XRP will continue facing volatility amid broader crypto market fluctuations.

Conclusion

In summary, Ripple Labs executed a substantial XRP transfer to Bitstamp exchange amid a market correction. However, the company continues working to expand the global reach and adoption of XRP through initiatives like Ripple Payments and partnerships like Onafriq. The road ahead remains volatile but Ripple appears committed to increasing XRP’s role in international transactions.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BusinesscryptoCrypto Regulationripplexrp
Tweet2ShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know
BUSINESS

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders
CRYPTO

Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

September 15, 2025
Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target
CRYPTO

Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

September 15, 2025
Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out
BITCOIN

Altseason Is Waking Up: Here are the Top Crypto Tokens to Buy Before You Miss Out

September 15, 2025
How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy
CRYPTO

How to Trade Solana Memecoins Like the Top 1%: Fix Your Trading Strategy

September 15, 2025
Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened
CRYPTO

Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

September 15, 2025
Load More

Related News

Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or $180K in 2025?

Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or $180K in 2025?

September 15, 2025
Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

Bitwise Files for Avalanche ETF: Here is What This Means for AVAX Holders

September 15, 2025
Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

Dogecoin Price Prediction – Here is Why Analysts See $0.45 as the Next Target

September 15, 2025
REX-Osprey Dogecoin and XRP ETFs Set to Launch This Week – Here’s What You Need to Know

REX-Osprey Dogecoin and XRP ETFs Set to Launch This Week – Here’s What You Need to Know

September 15, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews