Ripple Helps Transfer 110.3 Million XRP, Some of It Goes to Binance and Bitso

u.today April 08 2021 08:44, UTC
Reading time: ~2 m

Data shared by the blockchain coin tracker Whale Alert says that in the past twenty hours, a staggering 110,300,000 XRP has been shifted.

Among the parties participating in these transactions, are Ripple, its major ODL corridor, Coinbase, Binance and other exchanges.


Almost $100 million in XRP shifted

According to Whale Alert, over the past twenty hours, multiple crypto exchanges, as well as Ripple blockchain decacorn, have moved an aggregate $97,823,093 worth of XRP – 110,300,000 coins.

Ripple transferred 12 million XRP to the Binance crypto trading venue and sent 10 million tokens to Bitso – its ODL platform in Latin America (based in Mexico) that spreads the On-Demand Liquidity tech around the region.

Earlier, U.Today from time to time reported that Ripple giant had sent substantial lumps of XRP to the Binance exchange for ensuring the coin’s liquidity on the trading venue.

Poloniex exchange has shifts over 21 million XRP between its wallets.

Ripple scores a legal victory against SEC

As covered by U.Today earlier, the federal court had ruled that the US securities regulator has to satisfy the demand of Ripple’s lawyers and produce the documents regarding Bitcoin and Ethereum to be further looked at.

Those documents are the basis why the two biggest cryptocurrencies have been considered non-security assets by the SEC unlike Ripple-affiliated XRP.

Prior to that, Ripple has also managed to reach a consensus with the SEC about submitting partly redacted documents that contain information regarding Ripple’s finance and some of its institutional investors.

XRP steps back to spot 5

On both these news, earlier this week, XRP managed to retake its top-four spot on CoinMarketCap and hit a high above $1.

As of writing this, XRP is sitting at the top-five spot (Tether’s USDT occupies the fourth position) and is changing hands at $0.99.


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