As Coinbase transferred a significant amount of XRP, some in the community have begun to talk about possible relisting of coin that may happen soon
Crypto tracking bot whale alert spotted several large transactions moving XRP between crypto exchanges. One of them was the American exchange-listed platform Coinbase.
As it has shifted a large amount of the Ripple-affiliated coin, some XRP supporters began to speculate on the possible relisting of XRP that may take place soon.
89 million XRP moved by Coinbase
The aforementioned crypto tracker detected five large transactions, carrying a total of 208.6 million XRP tokens.
The share of Coinbase here was two transfers, which moved 88.6 million XRP in all. The crypto was sent from one Coinbase wallet to another.
As a reminder, Coinbase was the first crypto exchange to suspend XRP trading in January 2021 after the SEC filed a lawsuit against Ripple Labs in late December 2020. The regulatory agency also sued Ripple CEO Brad. Garlinghouse, and its co-founder, Christopher Larsen, for selling XRP, which the SEC claimed was an unregistered security. The litigation continues to this day.
These transfers of XRP between internal wallets of Coinbase have sparked speculations by some commenters, who assumed that Coinbase might be readying to resume XRP trading.
Since the beginning of 2021, when the exchange suspended trading of XRP pairs, it still allowed customers to store XRP on their wallets and deposit and withdraw the coin as they wished.
120.3 million XRP transferred by exchanges and ODL venues
The other three XRP transactions were conducted by U.S.-based Bittrex crypto trading company to Mexican crypto unicorn Bitso and Europe-based Bitstamp.
Bittrex transferred 20,000,000 XRP to Bitso and sent the same number of coins to Bitstamp. Both exchanges serve as Ripple ODL corridors in their regions, Latin America and EU.
Finally, 89,000,000 XRP were transferred by South Korean Bithumb exchange internally. The overall amount of transferred XRP comprises $166,483,409 at the current exchange rate of XRP/USD.
