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Ripple and Chris Larsen Help Shift 30 Million XRP, While Coin Remains in $0.55 Range

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Wed, 02/17/2021 - 15:47
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Yuri Molchan
Over the past 16 hours, Whale Alert has detected several XRP transfers of an aggregate 30 million coins, initiated by Ripple and its cofounder Chris Larsen
Ripple and Chris Larsen Help Shift 30 Million XRP, While Coin Remains in $0.55 Range
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Whale Alert crypto tracking bot has spotted 30 million XRP moved in three transfers over the past 16 hours. This constitutes $16,265,780 in fiat.

Chris Larsen and Ripple help shift 30 million XRP

Two of these transactions were performed by Ripple fintech giant, affiliated with XRP, and the company's cofounder and former CEO, Chris Larsen.

The high-profile Ripple executive transferred 10 million XRP to the Binance exchange.

Ripple blockchain decacorn wired the same amount of XRP tokens to its ODL partner in MexicoBitso. The data came from Bithomp XRP analytics website.

As covered by the media earlier, the U.S. securities regulator, the SEC, initiated a lawsuit against Ripple, Garlinghouse and Chris Larsen for selling unregistered securitiesXRPand making over $1 billion in the process.

Recently, U.Today reported that Ripple and the SEC believe the chances of settlement in this case are small.

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Image via Twitter

The third transaction was the Crypto.com exchange wiring 10 million XRP to Binance.

Related
Ripple and SEC Don't Believe There's Prospect for Settlement at This Time

XRP trading in the $0.55 range

After rising to the $0.6 level on Feb. 13 and 14, XRP token has been trading in a range near $0.5 over the past two days.

Meanwhile, XRP remains in sixth place with ADA remaining in fifth place and Polkadot holding onto fourth. The gap in the market cap value between XRP and these two coins is increasing.

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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.