Whale Alert crypto tracker has detected two large XRP transactions carrying 38.9 million XRP tokens. One of these XRP lumps was shifted by the San Francisco-based blockchain behemoth and the largest global crypto exchange by trading volume.
$27.9 million worth of XRP on the move
The two transactions in question took place around four and ten hours ago. Binance transferred 18,972,524 XRP to an anonymous wallet. That is the equivalent of $13,717,909. However, detailed data provided by the Bithomp XRP-focused analytics platform shows that this crypto lump was shifted between internal wallets of Binance.
The second tweet by Whale Alert shows that an anonymous address sent 20,000,000 XRP worth $14,297,008 to a crypto trading venue, Coins.ph based in the Philippines. It is one of those crypto exchanges that operates as a Ripple ODL partner.
Data shared by Bithomp shows that the transaction was initiated from Ripple wallet RL18-VN. It is often used for ODL transfers and to simply move the Ripple-affiliated tokens beyond Ripple, so as to sell them on exchanges or send them to company customers or to crypto custody companies—such as BitGo.
Is Coinbase preparing to relist XRP?
Around a week ago, Coinbase exchange transferred a total of 88.6 million XRP. This led some in the XRP Army to believe that the platform could be preparing to reinstate XRP trading after banning it in December 2021. The ban happened after the SEC kicked off a major legal action against Ripple Labs and two of its highest-ranking executives, Brad Garlinghouse and Christopher Larsen.
XRP shows signs of moderate growth
Over the past 24 hours, Ripple-affiliated cryptocurrency XRP has demonstrated a rise by 9.21%, going from $0.67773 to the $0.74015 level.
Prior to that, the bears managed to push the coin’s price down by 14.80%, creating a price drop from $0.79607 to $0.67773. Back then, U.Today reported that an anonymous crypto wallet had shoveled $30 million worth of XRP before the price plummeted.
At the time of writing, XRP is changing hands at $0.73551.