Over the weekend, top-tier crypto trading platforms have transferred a large amount of XRP, while the coin showed an almost 10% drop within the same time frame
According to recently released data, over the weekend, several of the world’s largest exchanges based in various parts of the world transferred over 120 million XRP.
Meanwhile, over the same time period, the Ripple-affiliated cryptocurrency has lost around 9% of its value on the market.
The crypto tracking service has detected three large transactions. The biggest one carried 90,000,000 XRP, which comprises $64,214,350. These funds were moved by the leading South Korean platform, Bithumb.
Binance, Bittrex, Bithump shovel 120.1 million XRP
The team of popular crypto tracker Whale Alert, which publishes details of large crypto transactions, tweeted that over the weekend, 120.1 million XRP tokens were wired by three major crypto exchanges, including the largest in trading volume, Binance.
Binance moved 15,172,582 XRP (worth $11,270,424) between its wallets, according to XRP-focused analytics site Bithomp. The latest transfer – which also moved 15,000,000 XRP – was made by US-based exchange Bittrex to another South Korean platform, Upbit.
Per the current XRP/USD exchange rate, the USD equivalent of the transferred XRP sum comprises $86,759,432.
As covered by U.Today on Friday, fintech giant Ripple was involved in moving a staggering 360 million XRP tokens. The majority of this amount – 306 million XRP – was moved between anonymous digital wallets.
Ripple wired 50 million XRP to its reserve wallet, RL18-VN, and 20 million XRP were sent by Bittrex to Coins.ph in the Philippines. The latter collaborates with Ripple as one of its ODL corridors.
XRP drops 9.23%
Over the past week, since February 21, the sixth largest cryptocurrency, XRP, has lost more than 10% of its value.
However, from Feb. 21 to Feb. 24, XRP’s losses constitute 20.63%, when the token fell to $0.6325. Since then, XRP managed to recover it losses, rising by 25% between Feb. 24 and Feb. 26. Since then, however, the decline has again been roughly 10%.
At press time, XRP price sits at $0.72438 on the Bitstamp exchange. The platform resumed XRP trading after suspending it in January 2021 when the SEC filed a lawsuit against Ripple in late December 2020.
