Over 204 million XRP have been transferred by Ripple and some large exchanges as price lost almost 12%

Within the past one day, six significant XRP transactions have been taken over by Ripple, Binance, Huobi, and other major crypto exchanges. At press time, XRP price continues to decline, dropping to $1.09.

over-204-million-xrp-have-been-transferred-by-ripple-and-some-large-exchanges-as-price-lost-almost-12

Source: Whale Alert

Ripple participates in moving 204.7 million XRP, while price drops to $1.09

The tweets were posted by the popular DLT service that tracks large crypto transfers, Whale Alert, with details from the Bithomp site that provides analytics on XRP transactions and wallets. In the meantime, the seventh-largest crypto continues to decline, dropping to $1.09.

over-204-million-xrp-have-been-transferred-by-ripple-and-some-large-exchanges-as-price-lost-almost-12

XRP/USD 4-hour chart | Source: TradingView

According to Whale Alert, the equivalent of $225,171,272 in XRP was transferred in XRP by Ripple, Binance, Bitstamp, Huobi, Bitfinex, Upbit, Bittrex, and Bybit. The first transaction was made more than 22 hours ago, and the most recent transaction was made two hours ago.

Ripple transferred 40 million XRP to its RL18-VN address, which is often used to move crypto outside the company – to its partners, crypto exchanges, and financial institutions. This wallet is also used for selling XRP to obtain fiat for covering Ripple’s operational expenses. The largest single lump was moved by Bybit internally. The platform shoveled a massive 83,220,460 XRP, equaling $94,226,820.

Earlier today, as AZCoin News reported, XRP price demonstrated a 12% drop after Coinbase exchange dismissed rumors of XRP trading resumption. Earlier, Santiment tweeted that an increase in XRP address activity has begun to push the coin up 10%.

“XRP just enjoyed another 10% burst, minor pullback, and now another leg up at the time of this writing. A continued great leading metric for XRP is address activity. When unique addresses suddenly spike, a price rise usually follows in the mid-term”, Santiment stated.

over-204-million-xrp-have-been-transferred-by-ripple-and-some-large-exchanges-as-price-lost-almost-12

Source: Santiment

However, XRP still fell from $1.24 to $1.09, losing almost 12% of that drop. After that, the coin has been trading sideways and is trying to recover. Currently, XRP holds the seventh spot on the CoinMarketCap scale for top coins by market cap after Solana surpassed it, is hitting an all-time high, and is trading at $182. la at press time.

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