Main navigation

Hundreds of Millions of XRP Transferred as XRP Price up 6.53%

Wed, 11/30/2022 - 13:47
article image
Yuri Molchan
Over 350 million XRP have been shoveled by whales as XRP price has surged in past week
Hundreds of Millions of XRP Transferred as XRP Price up 6.53%
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

In a series of recent tweets, Whale Alert crypto tracker shared that over the past 24 hours, whales have transferred 357.2 million XRP coins.

Overall, whales have been quite active in transferring XRP this week, while the asset put up a cumulative growth of over 6% in the past week.

Comprised 357 million XRP transactions detected

A massive chunk of XRP, consisting of 280,684,171 coins evaluated at $110,017,409, was transacted between two anonymous wallets around 24 hours ago.

The rest of the transfers spotted by Whale Alert carried an average of 25,000,000 XRP each. These transfers worth slightly over $10 million each were moved among users of the BitGo, Bittrex and Bitstamp exchanges. A total of 25,800,000 XRP were moved by Bitso platform internally.

Related
DOGE Accepted Next to Apple Pay by Elon Musk's The Boring Company in Las Vegas

Xumm wallet welcomes former Coinbase users

Ripple-based Xumm wallet's official account has tweeted that it is willing to welcome all XRP users who are going to be shed by Coinbase Wallet.

On Nov. 29, Coinbase announced that it intends to stop servicing users of XRP, XLM, ETC and BCH. The reason they referred to is that there is low activity around these coins on the wallet.

Many from the XRP army felt hurt as this reminded them of Coibase shutting down XRP trading in early 2021 after the SEC announced its legal war on Ripple Labs, CEO Garlinghouse and co-founder Larsen.

Back then, XRP users were still allowed to use the wallet for storing, depositing and withdrawing XRP. But that will all end as of January 2023.

The developer of Xumm wallet Wietse Wind assured followers that the wallet is combining all of the advantages of both cold and hot wallets.

article image
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.