Giant Exchanges are in the Work! Where Did Hundreds of Ripple Go?
128 million XRP moved through Ripple and giant exchanges!
According to CoinMarketCap data, XRP, which recently closed the third place in Tether’s USDT , managed to regain this position on Friday. As reported by the XRPL Monitor account, on Friday and Saturday, Ripple carried the San-Francisco-based Blockchain stratup a large amount of XRP. In the past twenty-four hours, the XRPL Monitor has detected 128 million XRPs transferred by crypto exchanges and other crypto services.
Moving XRPs are worth $ 25,639,808 from the current exchange rate. Other companies involved in the transport of these funds are the South Korean exchange Bithumb (14 million XRP), custody service BitGo (48 million XRP), Nexo (16 million XRP), Liquid (45 million XRP), Bittrex (20 million XRP). Two days in a row, DLT giant Ripple displaced substantial amounts in XRP.
Why can’t Ripple (XRP) price at the bottom rise?
On Friday, Blockchain startup Ripple and the largest ODL platform, Mexico-based Bitso, moved together 107.3 million XRP. 50 million XRPs were sent to an address where a user is not registered by Ripple’s fund wallet . Ripple uses XRP to send its partners for remittance (ODL corridors) as well as invest in other companies or give crypto for help.
Some people in the crypto community are dissatisfied with the use of XRP in this way and the new coins being constantly injected into the market. They believe this prevents the XRP price from rising. On January 4, 2018, XRP reached its all-time high of $ 3.80, and since February of that year, the third-largest cryptocurrency has not even recovered its $ 1 price level. At the time of writing, the popular crypto currency is trading at the $ 0.199 level.