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90 Million XRP Transferred by Leading Exchanges as Whales Keep Purchasing XRP

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Thu, 12/16/2021 - 11:18
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Yuri Molchan
Several major crypto exchanges have shifted almost 90 million XRP while coin went up nearly 8% earlier today and whales keep buying the dip
90 Million XRP Transferred by Leading Exchanges as Whales Keep Purchasing XRP
Cover image via stock.adobe.com

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Whale Alert spreads the word that, in the past 20 hours, three major crypto exchanges have conducted several transactions, moving 89.2 million XRP tokens. Meanwhile, cryptocurrency whales keep buying XRP on the dip.

Binance and other exchanges shift 89.2 million XRP

As per data shared by the popular crypto tracker, over the past 20 hours, Binance, HitBTC and Bithumb have made five transactions, moving close to 90 million XRP. That sum in crypto is equal to $73,395,729 in fiat.

Binance has made three transfers of 20, 12 and 15.6 million XRP each to the Gopax exchange based in Seoul, South Korea. Major Korean platform Bithumb has also moved 20 million XRP tokens. HitBTC sent 21,672,003 to the Binance crypto heavyweight.

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Image via Whale Alert

XRP remains up 60% this year, despite issues with SEC

Last year, during the last week of December, the U.S. securities regulator SEC initiated a lawsuit against Ripple Labs, its chief executive Bradley Garlinghouse and former CEO (and cofounder) Chris Larsen, accusing them of selling XRP to institutional investors as unregistered securities.

This caused a major drop in the price of the Ripple-affiliated cryptocurrency and made several big exchanges suspend XRP trading. Among them were Coinbase, Binance US, Bitstamp and several others, both large and small platforms.

The legal battle between Ripple and SEC lawyers continues on; however, despite this non-stop legal fight, XRP remains up 60% in 2021. This figure is quite small compared to Bitcoin and Ethereum, which have been classified as non-securities by the SEC: 147.4% and 550%, respectively.

At press time, the eighth-largest cryptocurrency, XRP, is changing hands at $0.8296 at the Bistamp exchange. Earlier today, XRP showed an over 7.5% rise to the $0.8362 level. However, by now, it has declined a little.

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Whales keep stocking up on XRP

While XRP is declining, whales continue to buy the dip. Over the past three months, the number of wallets that hold from 1 million to 10 million XRP has increased by 6%. Now, these wallets hold 3.21 billion XRP coins, according to data provided by Santiment data aggregator.

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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.