Close to 60 million XRP have been transferred over the past 24 hours between Ripple, Bitso and Binance. Bybit and Huobi have also taken part in this chain of XRP transfers.
Binance has conducted the largest amount of transactions, but they were smaller than the others.
Ripple and Bitso help shift $34.3 million worth of XRP
Ripple fintech giant wired 10 million XRP to Mexico-based Bitso exchange, the largest trading platform in Latin America and Ripple's partner in its ODL cash transferring business via XRP.
In October 2019, Ripple invested an undisclosed amount of funds into Bitso, and senior vice president of product, Asheesh Birla, joined the board of directors at Bitso.
Since then, Bitso has been spreading its cash transferring business around Mexico and other Latin American countries.
Binance moves 33.7 million XRP to Huobi
The world's largest trading platform, Binance, has transferred a total of 33.7 million XRP to the Huobi exchange in four transactions, each carrying 8.5 million coins on average.
In the comments, Twitter users assume that these may be whales purchasing XRP on Binance and moving it into cold storage vaults on Huobi.
Bybit has also transferred 15 million XRP to a Huobi wallet.