Ripple and this crypto behemoth have transferred almost $30 million worth of XRP, while the coin is showing a moderate rise
whale alert crypto tracker detected two large XRP transactions carrying 38.9 million XRP tokens. One of these XRP blocks was moved by the San Francisco-based blockchain giant and the world’s largest crypto exchange by trading volume.
$27.9 million worth of XRP on the move
The two transactions in question took place around four and ten hours ago. Binance transferred 18,972,524 XRP to an anonymous wallet. That is the equivalent of $13,717,909. However, detailed data provided by the Bithomp XRP-focused analytics platform shows that this crypto lump was shifted between internal wallets of Binance.
The second tweet from Whale Alert shows that an anonymous address sent 20,000,000 XRP worth $14,297,008 to a crypto trading venue, Coins.ph based in the Philippines. It is one such crypto exchange that operates as a Ripple ODL partner.
Data shared by Bithomp shows that the transaction was initiated from Ripple wallet RL18-VN. It is often used for ODL transfers and to simply move the Ripple-affiliated tokens beyond Ripple, so as to sell them on exchanges or send them to company customers or to crypto custody companies—such as BitGo.
Is Coinbase preparing to relist XRP?
About a week ago, the Coinbase exchange transferred a total of 88.6 million XRP. This has led some members of the XRP Army to believe that the platform may be preparing to reinstate XRP trading after banning it in December 2021. The ban came after the SEC launched a lawsuit major against Ripple Labs and two of its most senior executives, Brad Garlinghouse and Christopher Larsen.
XRP shows signs of moderate growth
Over the past 24 hours, Ripple-affiliated cryptocurrency XRP has demonstrated a rise by 9.21%, going from $0.67773 to the $0.74015 level.
Before that, the bears managed to push the price of the coin down by 14.80%, creating a price drop from $0.79607 to $0.67773. At the time, U.Today reported that an anonymous crypto wallet shoveled $30 million worth of XRP before the price plummeted.
At the time of writing, XRP is changing hands at $0.73551.
