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XRP Price in Green as Ripple Helps Transfer Close to 500 Million XRP

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Mon, 9/01/2023 - 9:57
XRP Price in Green as Ripple Helps Transfer Close to 500 Million XRP
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According to a recent tweet by prominent blockchain tracker Whale Alert, over the past 13 hours, an astounding amount of Ripple-affiliated XRP tokens has been replaced in pretty large chunks of crypto.

Among the senders was leading blockchain platform Ripple Labs. In total, nearly half a billion coins have been moved. As for the price of XRP, it has shown a slight rise over the past 24 hours, going up by more than 4%.

Transfer of 480 million XRP spotted, Ripple among senders

The aforementioned platform that traces large transfers of digital currencies spread the word about nearly half a billion of cumulative XRP transfers detected by it.

The two biggest chunks out of six here carried a whopping 214,000,000 XRP worth $73,525,151 USD, and 100,000,000 XRP evaluated at $34,004,188 USD. The former was shifted by Binance trading giant between its internal wallets.

The latter chunk of XRP was moved by fintech behemoth Ripple. The money was sent from a Ripple's internal wallet to another address belonging to Ripple. From that 100 million coins, 33.5 million XRP were sent to yet another Ripple wallet, according to data provided by XRP explorer Bithomp.

The rest of the 480 million was shifted by wallets that Whale Alert tagged as "unknown." However, it revealed the details that the senders moved chunks of 36,000,000; 30,000,000 and 40,000,000 XRP from Bittrex wallets to addresses linked to the Bitstamp exchange.

Ripple's major ODL platform, Bitso crypto unicorn exchange, transferred a total of 59,400,000 coins internally. The total worth of the XRP transfers described above is $164.1 million in fiat.

WhaleAlertXRpMovedRIpple_00wqefrgfdbljknmXRP
Image via Twitter

Related

XRP price goes green

The sixth largest cryptocurrency, XRP, has demonstrated a rise in the past 24 hours. It has grown from $0.33 to the $0.35 level on the Bitstamp exchange. By now, the rise has gone down a little, pushing the coin to $0.34902.

As reported by U.Today last week, major crypto exchange BitMart listed XRP against USDT stablecoin. This is one of the major rate listings of XRP over the past two years.

In January and February 2021, multiple crypto exchanges, including such giants as Coinbase and Bitstamp, suspended XRP trading after the SEC initiated a lawsuit against Ripple, accusing it of selling XRP as an unregistered security to institutional investors.

In the second half of 2022, Bitstamp delisted an XRP/PAX pair, along with several other crypto pairs trading on it.

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