- With Coinbase transferring a significant amount of XRP, some members of the community began to speculate about a possible relisting that could happen soon.
Whale Alert, the crypto tracking bot, has detected several major transactions moving XRP between crypto exchanges. Coinbase, a publicly traded platform based in the United States, was one of these exchanges.
As a significant amount of the Ripple-linked cryptocurrency has been moved, some XRP supporters have begun to speculate about a possible XRP relisting that could happen soon.
89 million XRP moved by Coinbase
The aforementioned crypto tracking platform Whale Alert has identified five major transactions in which 208.6 million XRP tokens were moved.
Coinbase was responsible for two of the transactions here, moving a total of 88.6 million XRP in the two transactions. Cryptocurrency transferred from one Coinbase wallet to another.
To go back a bit; Coinbase became the first cryptocurrency exchange to suspend XRP trading in January 2021 after the SEC sued Ripple Labs in late December 2020. The regulator has sued Ripple CEO Brad Garlinghouse and co-founder Christopher Larsen for selling XRP, which the SEC claims is an unregistered security. The case continues at full speed even today.
Some commentators Coinbase He stated that these XRP transfers between internal wallets by Coinbase indicate that Coinbase may be ready to continue trading XRP.
“Moving XRP back from a cold wallet to an exchange, prepare for relisting.”
Since early 2021, when the exchange suspended trading of XRP pairs, it has allowed customers to store XRP in their wallets on the platform and deposit and withdraw the coin as they wish.
120.3 million XRP transferred by exchanges and ODL corridors
Three other XRP transactions were made by Bittrex crypto trading company in the United States to Mexican crypto unicorn Bitso and to Bitstamp crypto trading company in Europe.
Bittrex shifted 20,000,000 XRP to Bitso. The same platform then sent the same amount of money to Bitstamp. Both exchanges serve as Ripple ODL corridors in their respective regions – Latin America and the EU.
Finally, 89,000,000 XRP was transferred internally by the South Korean Bithumb exchange. At the current XRP/USD exchange rate, the total amount of XRP transferred is $160,622,000.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 89,000,000 #XRP (70,508,881 USD) transferred from unknown wallet to unknown wallethttps://t.co/hIEm0IVOBv
— Whale Alert (@whale_alert) February 18, 2022
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.