Ripple News: According to tweets shared by blockchain data provider Whale Alert, in the past twenty hours, Ripple and two major crypto exchanges have moved 140.5 million XRP in various transactions.
Ripple and two exchanges carried large amounts of XRP
The Whale Alert service, which tracks massive transfers carried by companies and individuals, tweeted some major XRP transactions initiated by Ripple and several major digital trading centers in the past twenty hours.
Looking in detail, Ripple moved 11.5 million XRP tokens to the BitGo crypto custody wallet, which was recently acquired by Mike Novogratz’s Galaxy Digital fund. The deal will be closed later this year. BitGo operates as the second largest crypto protection service in the world.
Coinbase, the largest US-based crypto exchange, which became a public company by trading on the Nasdaq as of April this year, transferred 65 million XRP to its Bithomp wallet.
64 million XRP was transferred by Bitstamp, Ripple’s ODL platform based in Luxembourg, Europe.
The total equivalent of the transferred XRP in fiat currency totals $121,044,400.
XRP seeks opportunity to rise again
XRP, the seventh-largest cryptocurrency, is changing hands at $0.86 at the time of writing, according to data provided by CoinMarketCap. The coin recovered a bit after the $0.63 tip level on May 23. The highest point that XRP managed to reach once this year is the $1.93 level on April 14.
Then, from May 1 to May 18, the currency traded in the $1.5 range, then bottomed out.
Since December last year, Ripple CEO Garlinghouse and co-founder Chris Larsen have been involved in a lawsuit filed by the U.S. regulator, the SEC, for allegedly trading “unregistered securities”.
This lawsuit is believed to be the main factor that kept the XRP price low and prevented it from reaching its April 14 high.