- Ripple was observed to move massive amounts of XRP tokens.
- XRP price increased from $0.33 levels to $0.35 levels.
- 500M XRP tokens were moved to and from Binance, Ripple, Bitstamp, and other unknown addresses.
Twitter blockchain tracking account Whale Alert’s recent tweets shared that over the last 13 hours, fintech giant Ripple was spotted moving a massive number of XRP tokens.
According to the tweets, almost 500 million XRP coins were moved, driving the XRP token value to rise significantly. Over the last 24 hours, more than a 4% increase has been observed in the price of XRP, at the time of writing.
The transfer was carried out in six major chunks, including the two biggest shares of 214,000,000 XRP worth $73,525,151 USD, and 100,000,000 XRP estimated at $34,004,188 USD.
Moreover, the leading crypto exchange Binance shifted the former amount between its internal wallets. While the later chunk was sent from one of Ripple’s internal wallets to another Ripple-based address.
Additionally, Whale Alert reported 33.5 million XRP coins from the 100 million tokens were further sent to another Ripple wallet. Meanwhile, the rest of the 480 million was transferred to an “unknown” address with chunks of 36,000,000; 30,000,000 and 40,000,000 XRP moved from Bittrex wallets to addresses associated with the Bitstamp exchange.
Moreover, Bitso, a crypto unicorn exchange, which is Ripple’s primary ODL platform transferred a total of 59,400,000 coins worth over $164.1 million USD internally.
The transfers have contributed to the price growth of the world’s six largest cryptos. In the last 24 hours, XRP has increased from $0.33 to $0.35 level, according to the Bitstamp exchange platform. However, the price has now fallen a little, as the coin currently trades at $0.3490.2
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Source: https://coinedition.com/ripple-spotted-moving-500-million-xrp-tokens-over-13-hours/