106.3 Million XRP Sent To Top Crypto Exchange, Signs Ripple Will Re-listing

XRP is starting to be transferred to crypto exchanges. (Pixabay)

JAKARTA – The movement tracker of the largest cryptocurrency owner Whale Alert has detected a large transaction of 106.3 million XRP in the last 24 hours. Reportedly, a number of Ripple coins were sent to the largest crypto exchanges in the world. The XRP that was sent was worth 84,489,029 million US dollars or IDR 1.2 trillion.

This amount of XRP is sent to the Binance and FTX crypto trading platforms. A total of 21,229,848 XRP was sent to Binance and FTX, while 35,156,310 XRP was sent to Bittrex.

Europe-based crypto exchange Bitstamp has acted as a beneficiary in these two crypto transactions. Bitstamp received 30,000,000 XRP from US-based crypto storage service BitGo (acquired by Mike Novogratz's Galaxy Digital last year). The second transfer to Bitstamp was made from a wallet belonging to Bittrex. Due to this action, the price of XRP has increased in the past few days.

On the other hand, the US Securities and Exchange Commission (SEC) lawsuit against Ripple is also still ongoing. But the latest report states that the SEC is rumored to be unable to sue XRP. No half-hearted, the statement was delivered directly by the Commissioner of the SEC, Hester Pierce.

In December 2020, the SEC accused Ripple and its executives of earning $1.3 billion for offering unlisted securities. The SEC vs Ripple feud began in court after the allegations.

The drag of XRP to court has seen its price drop. Coupled with the decision of a number of crypto trades to delist XRP from the platform. However, now the issue of re-registering or relisting XRP for crypto trading has started to resurface.

As of writing, XRP is trading at IDR 11,006, a decline of 4.2 percent in the last 24 hours. While in one week, XRP rose 5.4 percent based on data reports from Coingecko.