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261 Mln XRP Moved by Major Exchanges in Jaw-Dropping Lumps, Ripple Involved

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Fri, 05/08/2020 - 09:50
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Yuri Molchan
Ripple has moved a big amount of XRP but it seems tiny compared to what has been moved by Binance and Bithumb over the past twenty-four hours
261 Mln XRP Moved by Major Exchanges in Jaw-Dropping Lumps, Ripple Involved
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Gargantuan amounts of XRP have been moved by two major exchanges – Binance and Bithumb – over the past twenty-four hours. Ripple also sent thirty million XRP from its ‘XRP treasury’.

The lumps in which the crypto was sent are of tremendous size, with the biggest one being 100 mln XRP.

261.3 mln XRP has been moved in lumps, Ripple involved

Now that XRP is holding at the $0.21 level and Bitcoin briefly touched $10,000 earlier today and made a slight reverse, XRP holders, including major crypto exchanges, have become more active with the third largest currency.

XRP moved
Image via Twitter

XRPL Monitor has spotted around eight mammoth-sized transactions (and some smaller ones) of XRP, which it brought to public attention. The largest one of them totalled 100 mln XRP ($21,602,884).

Other lumps that carried XRP here totalled 40.9 mln, 24.2 mln, 16.6 mln, 20 mln and 10 mln. All-in-all, $56,448,336 mln was transferred.

From that amount, Ripple sent 30 mln XRP in two tranches to different BitGo wallets.

Ripple XRP
Image via Twitter

A Twitter user in the comments claimed that there is nothing special about these two transactions, just Ripple adding funds to their BitGo account.

Related
Peter Brandt Says He's 'Super Bullish' on Bitcoin and Ethereum, Calls XRP 'Dead End'

XRP price shows bullish reversal pattern

User ‘Bixley’ from TradingView is bullish on XRP and believes that the third most popular crypto is now moving within a Falling Wedge – a pattern which is a bullish reversal.

The situation could be very bullish, he explains.

“XRP has broken above the 200MA. This situation could be very bullish and repeat a previous break above the 200MA. Falling wedge is a bullish reversal pattern. There is a symmetrical triangle and falling wedge, subjective of where you draw the trend lines”

TradingView XRP
Image via TradingView
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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.