Whale Alert has reported that in the past two days, popular digital exchanges have seen a spike in crypto transactions which moved large amounts of Ripple-affiliated XRP coin between their addresses. A total of 246.7 million coins has been moved.
Among the exchanges whose wallets were involved are Binance, Bittrex, Coinone, Ripple’s ODL platform Bitso in Mexico, etc. Some of these transactions were conducted by the exchanges internally.
These transfers moved large lumps of XRP – from 60 million to 40 and 30 million. The smallest ones shifted roughly 12 million coins.
This increased XRP transactions have been occurring after Ripple spread the word about RippleNet’s adoption success in the Asia-Pacific region with a forecast for a lot more utilization throughout 2022.
RippleNet is a global payments network created by Ripple that includes the usage of the On-Demand Liquidity (ODL) technology which requires XRP.
In the meantime, the seventh largest cryptocurrency, XRP, continues to trade in the $0.7 range.