110 Million XRP Moved by Huobi, Binance and Other Exchanges, While Coin Hits $1.96

110 Million XRP Moved by Huobi, Binance and Other Exchanges, While Coin Hits $1.96
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Yuri Molchan

Slightly over 110 million XRP has been shifted by major and minor crypto exchanges as the coin surged to the $1.96 level

Over the past twenty-four hours, top-tier exchanges along with minor ones have transferred a whopping 110 million XRP tokens between each other, as per the data shared by Whale Alert.

While these transactions were taking place, the fourth largest cryptocurrency XRP spiked to a new peak of $1.96, trading against USDT on the Binance exchange first time since January 2018.

$211 million worth of XRP transferred by crypto exchanges

According to the recent tweets published by Whale Alert tracking service, in the past twenty-four hours, top-tier exchanges, such as Binance, Huobi, Bitstamp, and some minor platforms, have shifted an astounding $211,039,307 worth of XRP – 110 million tokens.

In particular, Bitfinex has pushed 20 million XRP to Kraken. Binance has shifted 20 million coins to Huobi.

Other transactions were smaller – Coinbase moved 3.4 million XRP between its own wallets, UpBit and Binance have also transferred around 7 million XRP between each other and internally. Small exchanges have also moved big amounts of XRP.

Image via Twitter

Meanwhile, a cofounder of Ripple, Jed McCaleb sold a whopping 100 million tokens from his shrinking XRP holdings as U.Today reported on Monday.

The community expects him to sell the rest of his 8 billion XRP by August. However, if he increases daily sales to 40 million XRP, it may happen way sooner than that.

XRP surges to the highest level since 2018

Earlier today, the fourth largest cryptocurrency soared to touch the $1.96 level on the Binance exchange, thus inching real close to the $2 price mark.

At the moment, XRP is trading at $1.91, that is still far from XRP’s all-time high of $3.84 hit on January 4, 2018, though.

Ripple has recently been scoring legal victories against the US Securities and Exchange Commission in the lawsuit started by the agency against Ripple Labs in December 2020 and against its major investor Tetragon.

Besides, the coin has been pushed up by the current Bitcoin rally above $64,000. The latter has been provoked by Coinbase direct listing that is to take place on the Nasdaq today.

The second largest cryptocurrency, Ethereum, has also reached a new all-time high of $2,397 earlier today. The aggregate capitalization of all cryptocurrencies now stands at $2.26 trillion – that is comparable with the market cap of Apple giant now.

Image via Twitter

editorial staff