Whale Alert has identified three major XRP transfers by Coinbase and Bitstamp in the past 10 hours, while XRP has dropped to half of Tether’s market cap this year.
The Whale Alert crypto tracking bot spotted two major digital exchanges exchanging a huge amount of XRP: 82 million tokens in total.
Record drop in XRP’s market value
Whale Alert has released details of three major transactions carrying a cumulative 82 million XRP tokens. This corresponds to $ 18.5 million in dollars.
About 60 million XRP has been shifted between their wallets by Coinbase. Bitstamp moved 22 million XRP to its custody service BitGo.
Luxembourg-based Bitstamp announced that XRP transactions have been suspended on its platform. Coinbase, the largest US-based crypto trading platform, told its users that it will stop trading XRP from January 19, 2021.
XRP drops to $ 0.22
After Coinbase announced in its blog post that it plans to suspend XRP trading over a lawsuit filed by the SEC on December 21, the third-largest cryptocurrency lost another 22 percent and fell to the level of $ 0.22.
In addition to Bitstamp’s suspension of XRP rates, OKCoin, Crypto.com and other cryptocurrency platforms have announced that they have suspended XRP trading.
This announcement by Coinbase cut XRP from # 3 to # 4 by market capitalization, according to CoinMarketCap.
As reported in our previous post, Messari’s OnChainFX platform now ranks XRP in fifth place by market value. Litecoin ranked fourth.