Over the past sixteen hours, close to a whopping 200 million XRP has been shifted by cryptocurrency trading venues, according to the data posted by the Whale Alert blockchain service.
Major crypto traders move 195.5 million XRP
As per the data shared by the Whale Alert team, over the last sixteen hours, three top-tier crypto exchanges have shifted over 195 million XRP tokens – an equivalent of $131,742,145 in traditional fiat currency.
Three digital exchanges were involved in these transfers. The largest XRP stash was moved by the Bybit platform to Binance - 109,678,062 XRP (74,586,574 in US dollars).
The other three crypto transactions were made by the US-based Poloniex exchange – three transfers of slightly over 28,500,000 XRP.
Overall, Poloniex moved $57,810,033 worth of XRP (85,500,000 tokens).
As reported by U.Today last week, the crypto behemoth Ripple unleashed another billion XRP tokens from escrow – a tradition it has been following since 2018 to support the coin’s liquidity and cover the company’s operational expenses.
However, recently, the blockchain decacorn has begun locking almost all of the released sum back in escrow – usually, that’s about 800 million XRP.
XRP trading in the side range
The sixth most popular cryptocurrency XRP remains in the side range, trading in the $0.6 area. This is where the coin has managed to recover after the drop to the $0,5223 level on June 22.
On June 29, the coin reached out to the $0.7 price mark but then went down.
The major price decline that XRP has been suffering since the start of 2021 is caused by the lawsuit brought by the US securities and exchange agency against Ripple Labs and two of its leaders – Christopher Larsen (co-founder and former CEO) and Brandley Garlinghouse, the current chief executive.