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100 Million XRP Wired as Coin's Price Spikes 15.5%

Mon, 02/07/2022 - 14:51
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Yuri Molchan
Staggering amount of XRP has changed hands, while coin shows sudden growth by over 15%
100 Million XRP Wired as Coin's Price Spikes 15.5%
Cover image via stock.adobe.com

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Whale Alert has detected several large XRP transfers carrying over 121 million XRP, conducted by crypto exchanges. However, 100 million XRP was wired not long ago—over the past five hours.

Meanwhile, the eighth largest cryptocurrency, XRP, has demonstrated major growth (by 15.5%) in the past 24 hours and is changing hands at $0.7739 as of this writing. Its price surge surpassed that of the other top 10 cryptocurrencies, including Bitcoin. As the XRP price soars, interest in this digital currency seems to be going up as well.

Overall, XRP has surged more than 30% since Friday, including today's growth.

XRPsurges15_percent_00
Image via CoinMarketCap

121 million XRP moved by exchanges as the price spikes

This amount of XRP worth over 90 million USD in fiat was moved in three lumps worth 80 million, 20 million and 21 million coins.

The 80 million have been sent just slightly over two hours ago between the internal wallets of a leading exchange in South Korea, Bithumb. So was the stash, carrying 20 million coins, a little over five hours ago.

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The third lump was moved from Bitstamp exchange to the BitGo platform that offers crypto custody services to financial institutions and is a Ripple partner, where the DLT giant stores some of its XRP riches.

Last year, BitGo was acquired by Mike Novogratz's Galaxy Digital crypto investment fund as it decided to venture further into the blockchain and crypto fields.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.