Whale Alert has detected several large XRP transactions. The total amount of cryptocurrencies transferred as fiat exceeds $150 million over the past 18 hours. XRP price shows almost 10% growth.
125.3 million XRP moved by Ripple and top exchanges, while XRP price gains 10%
Over the past 18 hours, Ripple and several leading crypto exchanges have traded 125.3 million XRP. That equates to $155,176,317.
The largest single transfer here constituted 85.8 million XRP. Ripple has made two transactions, moving a total of 20 million XRP. Whale Alert says that these coins were moved to anonymous wallets. However, data from the analytics website Bithomp shows that the recipient was the RL18-VN wallet.
This transaction belongs to Ripple and is commonly used to distribute XRP beyond Ripple – to its investors, customers, and partners, as well as crypto exchanges for supporting the coin’s liquidity. The company also uses this address to convert XRP to fiat to cover its operational expenses.
Exchange Bybit transferred 85,849,900 XRP to Binance exchange. This totals $104,214,600 USD at the current exchange rate. 9,500,000 XRP ($11,391,626) has been transferred from the Bitstamp trading venue to an anonymous crypto wallet.
As AZCoin News reported, Japanese crypto exchange Liquid had suffered a security breach. As a result, cryptocurrencies worth over $80 million were stolen by cybercriminals. The malefactors managed to withdraw around 11.5 million XRP, over 100 BTC, a close to 10 million TRX, and $60 million worth of Ethereum and token ERC-20.
XRP/USD 4-hour chart | Source: TradingView
At press time, XRP price is trading at $1.28, showing over 10% growth over the past 24 hours. On August 15, XRP reached a peak of $1.33 and since then it has been trying to recapture it after a slight decline.
Read more:
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