XRP Worth Millions Moved by Top Crypto Exchanges in the Last 24 Hours
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XRP Worth Millions Moved by Top Crypto Exchanges in the Last 24 Hours

April 13, 2021      Jafrin Ahmed

Coinbase, Huobi, Bittrex, Binance, and Kraken, along with smaller cryptocurrency exchanges have transferred a total of 131.2 million XRP tokens in the past 24 hours, according to data posted by crypto tracking bot Whale Alert. This represents a total of $215.6 million in fiat currency.

Crypto Exchanges Moves 131.2 Million XRP Tokens in the Past 24 Hours

Crypto tracker Whale Alert has reported that Coinbase, Huobi, Bittrex, Binance, and Kraken, along with smaller exchanges have moved 131.2 million XRP tokens.

Bittrex has internally moved 10,500,000 XRP tokens. While Coinbase moves a whopping 62 million tokens.

Interestingly, Coinbase, Bittrex, and Binance.US suspended the trading of Ripple tokens in January.

READ  SEC Files Amended Complaint Against Ripple Labs and Founders

The move came in response to the U.S. Securities and Exchange Commission filing a lawsuit against Ripple Labs last year alleging XRP is a security. Following this, the cryptocurrency exchanges started distancing themselves from being associated with the XRP token.

Despite the delisting, Coinbase and Binance.US have continued moving large amounts of Ripple tokens since then.

Meanwhile, the largest cryptocurrency exchange in the United States, Coinbase has also allowed its customers to store and withdraw their Ripple tokens seamlessly as before.

XRP Continues to Soar Amid SEC Lawsuit

Regardless of the SEC lawsuit, the Ripple token price has been moving higher as Ripple continues to operate and expand internationally. With the majority of its customers outside of the U.S., the price has more than doubled from $0.22 at the start of the year to currently trading at $1.70.

READ  Ripple Faces Another Lawsuit Over Unregistered XRP Sales in Florida

Some have attributed that the upward climb in XRP’s price action comes due to the immense support it’s receiving from its loyal Ripple token Army. In late March, the community even got the hashtag “RelistXRP” trending on Twitter urging cryptocurrency exchanges to relist the digital asset.

Recently, Veteran analyst, Peter Brandt even took a bullish stance on XRP saying that the digital asset is poised to break out against Bitcoin. He pointed that the XRP/BTC trading pair has formed an extremely rare compound fulcrum pattern, indicating a powerful buy signal.

#Ripple Labs #XRP
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.