• 256 million XRP have been transferred from the Coinbase Wallet

  • The popular crypto tracking platform Whale Alert has discovered that the major US-based crypto exchange Coinbase wired a massive 256 million XRP tokens in a single transaction.

    At the current XRP price of $1.13, that amount of cryptocurrency is equivalent to $300,776,300 USD.

    Internally, Coinbase moves 256 million XRP.

    The transaction was carried out between Coinbase internal wallets, according to data released by the analytics website Bithomp, which works with XRP.

    Surprisingly, the Nasdaq-listed crypto trading platform banned XRP trade in January of this year, along with several other large exchanges, including Bitstamp, Binance U.S., and others, after the US SEC regulatory body filed a legal challenge against Ripple Labs in December 2020.

    The community anticipated that Coinbase would reinstall XRP on its platform on July 28, as this was the date when SEC chairman Gary Gensler was required to give a detailed plan on crypto regulation to Democratic Senator Elizabeth Warren. The latter is a Democrat and the chairman of the Senate Banking Committee’s Subcommittee on Economic Policy.

    She is a prominent critic of cryptocurrencies in general, believing that their excessive volatility poses significant hazards to consumers and financial markets.

    Binance has transferred 100 million XRP to China.

    Whale Alert reported large XRP transactions earlier this week as well. Binance, a top-tier cryptocurrency exchange, exchanged a stunning 100 million XRP tokens in two chunks (60 million and 40 million XRP).

    Huobi, China’s largest cryptocurrency exchange, was the lucky receiver.

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