Over the past sixteen hours, an aggregate amount of 61 million XRP tokens has been transferred by two major crypto exchanges – Coinbase and Binance – and a smaller one - Bitrue.
Data has been provided by Whale Alert crypto tracker and Bithomp website that works with XRP analytics.
Crypto exchanges move 61 million XRP
Whale Alert Twitter bot has detected three large XRP amounts moved by Binance and Coinbase and Bitrue.
Coinbase has transferred 20 million XRP to the largest crypto exchange - Binance. Coinbase has also shifted 31 million tokens between its own wallets.
Bitrue has done the same with a ten-million lump of XRP. The total amount of XRP that was wired represents $33,907,358.
In January 2021, Coinbase suspended XRP trading after Ripple Labs and two of its highest-ranking executives – CEO Gralinghouse and cofounder Chris Larsen – were sued by the US securities regulator.
The lawsuit, however, did not include Jed McCaleb – the second Ripple cofounder who has been selling his XRP stash constantly paid out in small amounts by Ripple as part of the settlement agreement signed with McCaleb after he left the company in 2013.
As a reminder, Coinbase was also sued by the SEC for charging trading fees from “illegal” XRP trading.
Coinbase suspended XRP trades but users are still able to hold their tokens in their Coinbase wallets and withdraw them.
The US branch of Binance has also suspended XRP trading.
XRP holding at the $0.57 level
At the time of writing, XRP remains on the top 7 spot on the CoinMarketCap scale. It has been trading in the range close to the $0.57 price mark since February 14.
The highest peak the coin has managed to reach so far this year was $0.71 on February 1.
The community believes that XRP holding this high despite the SEC lawsuit is a good sign for the coin. However, as reported by U.Today recently, the regulator and Ripple doubt that a settlement may be reached.