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Ripple and Bittrex Move 85 Million XRP, While Coin Drops Below $1

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Mon, 05/24/2021 - 11:58
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Yuri Molchan
Blockchain heavyweight Ripple has helped Bittrex and two other major exchanges to shift almost 85 million XRP coins
 Ripple and Bittrex Move 85 Million XRP, While Coin Drops Below $1
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Data recently shared by the Whale Alert DLT platform shows that, in the past 20 hours, 84.6 million XRP has been shifted by Ripple and several major crypto exchanges located in both the U.S. and Asia.

The total amount of XRP moved is a whopping 84.6 million coins. That is the equivalent of $72,064,821 in fiat.

Meanwhile, XRP continues trading under the $1 level since late last week, after Bitcoin plunged below $40,000 and Ethereum dropped under $2,000.

81 million XRP shifted by crypto trading giants

Cryptocurrency tracking platform Whale Alert has shared the details of several large XRP transfers that have been conducted by Ripple and four major digital exchanges: Bittrex, Binance, Upbit and Huobi.

U.S.-based Bittrex shifted 37 million XRP to Upbit. Binance has also sent and received approximately 33 million XRP from a smaller trading platform.

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Ripple increases its daily XRP transactions to Huobi

The Ripple fintech giant continues to conduct daily XRP transfers to the Huobi crypto exchange. As per the details from analytics website Bithomp, last week, the blockchain decacorn Ripple wired 4,087,900 tokens per day.

Now, this daily amount has increased a little. This week has begun with two 4,195,300 XRP transfers.

Ripple has not commented on these continuous transfers to Huobi, so these regular (for the time being) transactions are likely to be made to support XRP liquidity on the largest crypto exchange in China.

The blockchain decacorn, Ripple, has been moving crypto to Huobi via its RL18-VN wallet since April 9. Ripple has already sent 200 million XRP to this wallet to be transferred to Houbi in two batches.

The latest XRP transfer from Ripple to the wallet took place on May 8.

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Image via Bithomp
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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.