TL; DR Breakdown
- Large exchanges move 61 million XRP between unknown wallets, according to Whale Alert.
- The price of XRP now hovers around $0.57
- XRP fans maintain optimism about the coin.
Some exchanges move huge amount of XRP tokens
Binance, Coinbase, and Bitrue have transferred 61 million XRP tokens according to the data released by Whale Alert. The network detected that Coinbase made a transfer of 20,000,000 XRP tokens (worth $11.290,856) to Binance and also moved 31million tokens to an unknown wallet. Likewise, Bitrue also transferred 10,000,000 XRP.
Similarly, about four days ago, anonymous whales moved $99.3 million worth of XRP between unknown wallets. Coinbase had earlier suspended XRP trading on its platform following the lawsuit between Ripple and the U.S Securities and Exchange Commission (SEC) when Ripple Labs was accused of offering an unregistered asset.
Currently, the exchange has suspended U.S. traders from trading XRP on the platform. However, users who have Coinbase wallets can still hold XRP tokens, make withdrawals and transfers. Similarly, most US-based exchanges have also suspended XRP trading.
Fans are positive about XRP tokens
Amid the crisis, XRP now ranks on position 7 according to CoinMarketCap, and has stalled near $0.57 for almost a week. Since the year rolled out, the token has not been able to move past the $0.71 benchmark price level.
Within the last 24 hours, XRP has shown a little optimism when the former SEC chair defended the cryptocurrency, calling the lawsuit a blunder. Due to the strength shown by the coin, Fxstreet predicted that the price might rise by 15%, noting that the resistance ahead is weak.
Nevertheless, XRP fans believe that for the price to have held up high this far even with the Ripple Labs crisis, it reveals optimism about the coin. Some weeks back it was reported that the case against Ripple might end soon, however, U.Today doubts if both sides have reached an agreement.