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Ripple, Chris Larsen and Coinbase Transfer Whopping 520 Million XRP

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Sat, 01/09/2021 - 11:13
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Yuri Molchan
Recent data says that Ripple together with its cofounder and the largest US-based exchange Coinbase have transferred over half a billion XRP
Ripple, Chris Larsen and Coinbase Transfer Whopping 520 Million XRP
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According to the data shared by Whale Alert cryptocurrency tracker, a mammoth-sized amount of XRP – over half a billion coins.

This eye-popping sum came in several transactions, conducted by Ripple, its cofounder and executive chairman and trading giant Coinbase.

Curiously, all the three players have been sued by the SEC over XRP sales.

XRP
Image via Twitter

520.8 million XRP shifted in lumps

Whale Alert posted several tweets about a massive amount of XRP moved by Ripple, Chris Larsen and Coinbase – $168,279,114 worth of XRP (520.8 million coins).

It took six transactions to wire that amount. The transfers were made between Ripple’s wallets, including the company’s OTC wallet and addresses set up during Ripple’s early days when it stil carried the name OpenCoin.

71,789,758 XRP was moved from the Ripple OTC Distribution wallet.

75,095,833 XRP was shifted by Chris Larsen.

Coinbase wired a whopping 199,999,980 XRP between its wallets.

XRP
Image via Twitter

Related
XRP Ledger Can Help Banks Create Stablecoins, Ripple CTO States

XRP remains at the $0.32 level

Despite the recent wave of delistings announced by multiple crypto exchanges, including large platforms, like Coinbase, Bittrex, Binance US, Bitstamp, etc, XRP has managed to recover above the $0.30 price mark.

At the time of writing, the coin is changing hands at $0.32.

Earlier this year, it managed to lose the top-four position on CoinMarketCap to Litecoin, however, XRP then regained it.

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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.