Ripple, Houbi and Coinbase Shift 128 Million XRP, While Coin Sits at $1.37

Ripple, Houbi and Coinbase Shift 128 Million XRP, While Coin Sits at $1.37
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Yuri Molchan

Ripple giant and several major digital exchanges have moved 127.9 million XRP between each other, according to the recently shared data

Blockchain tracking service Whale Alert has spread the word that in the past twenty hours, several top-line exchanges and a few smaller ones, along with the Ripple DLT giant, have moved a whopping 128 million XRP tokens.

In the meantime, XRP remains in the $1.4-$1.3 price range after it had reached a peak level of $1.9 on April 14.

Ripple, Coinbase and Huobi wire $171 million in XRP

As per the data provided by Whale Alert blockchain sleuth, in the past twenty hours, Ripple, Coinbase, Houbi, PDAX and a few other exchanged have pushed a massive amount of XRP – 127.9 million worth $171,659,138 at the current $1.3 exchange rate.

Ripple shifted 9,230,200 XRP from its RL18-VN wallet to the Huobi exchange. The largest US-based crypto trader Coinbase, which recently has become a public company on the Nasdaq, moved 61,999,980 XRP internally.

Philippines-based exchange PDAX made two transactions of 12 million and 36 million XRP each.

Ripple has two ODL corridors that work in the Philippines – the exchange and the other one works as a result of the recent partnership between the Ripple behemoth and Australian payments company Novatti.

The latter is currently considering an expansion into the South-Asian region, using the Ripple technology.

However, there is no data to say if the PDAX XRP transfers have anything to do with Ripple’s ODL corridors.

Image via Twitter

India fears Ripple may disrupt the present banking system

In a recent report from Ernst & Young made for an Indian regulator CCI, an opinion was shared that modern blockchain platforms like Ripple may start a heavy competition with the traditional banking system.

The reason for that mentioned in the report is that Ripple offers a faster and cheaper way of transferring money around the world. Besides, operations made by Ripple are transparent.

The competition in the sphere of payments between conventional companies and blockchain-based ones has already started, the report says.

The authors expect blockchain companies to put a competitive pressure on all the conventional spheres: healthcare, insurance, banking, real-estate, etc.

editorial staff