Ripple Shifts 190.7 Million XRP Along with Major Exchanges After Coin Plunges Below $1

Ripple Shifts 190.7 Million XRP Along with Major Exchanges After Coin Plunges Below $1
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Yuri Molchan

Large movements of XRP have been noticed by blockchain tracker Whale Alert from Ripple and top-line crypto exchanges as 190.7 million XRP was moved in lumps

Whale Alert service that tracks large movements of digital currencies on the blockchain has reported that in the past twenty hours, an astounding 190.7 million XRP tokens has been shifted by fintech giant Ripple and leading global digital currency exchanges.

Meanwhile, on Thursday night XRP plummeted to the $0.8 level, erasing its recent gains. The coin has also stepped back to the top-five spot from the top-four one.

Ripple wires 100 million in single lump

Seven hours ago, a transfer, carrying a whopping 100 million XRP from Ripple Labs crypto behemoth was noticed. This equals 116,546,822 in the USD.

The money was sent from a Ripple address to its RL18-VN wallet. In the past and recently, this address has been used by the company for sending XRP beyond Ripple, i.e. to crypto exchanges or Ripple clients, partners.

Image via Twitter

90.7 million XRP moved by crypto exchanges

In the meantime, leading digital exchanges have wired an amount of XRP almost similar to that shifted by Ripple.

In the past twenty hours, Binance, Huobi, BitGo, Poloniex and Parabu have moved 90.7 million XRP – an equivalent of $92,995,162.

Image via Twitter

Large-sized XRP transfers made by Binance, Huobi and BitGo have been recorded for the third day in succession this week.

As reported by U.Today earlier, on April 21 and April 22, Ripple sent around 10 million XRP to the Huobi exchange. Coinbase has also been spotted moving massive amounts of XRP this week.

XRP collapses below $1 but starts a gradual recovery

On April 22, XRP plunged to the $0.8 level, leaving behind its April gains made thanks to the series of legal victories against the SEC in the lawsuit.

However, yesterday’s suggestion of the US president Biden to impose a controversial capital gains tax proposal to be raised to approximately 40 percent made Bitcoin collapse below the $50,000 line and all major cryptocurrencies, including Ripple affiliated-XRP, went down in the red as well.

By now, XRP has recovered to the $1.02 level, as per the data from CoinMarketCap.

editorial staff