Whale Alert, a well-known crypto watchdog, reported that a whopping 270 million XRP were transferred by prominent crypto exchanges in the past 20 hours. Meanwhile, Ripple, the digital payment network, keeps transferring XRP to Chinese crypto trader, Huobi, every day. Major Crypto Trading Exchanges See 270 million XRP Move According to a series of tweets posted by Whale Alert over the last 20 hours, several leading cryptocurrency exchanges have transferred a massive amount of XRP. It is estimated that nearly 270 million XRP tokens, worth a staggering $239,232,115 in US Dollars, were wired in three transactions during the activity. At the moment, the virtual currency is changing hands at nearly $0.8717 in the market. Huobi, Binance, Coinbase, and Bybit were among the top exchanges that took part in the transfers. The largest amount of XRP (175,434,574 tokens) was wired from Bybit to Binance. In addition, Whale Alert reported that Bitstamp transferred 64.5 million XRP to Coinbase, and Huobi wired another 30 million tokens to Binance. Ripple Shifts Another Batch to China Fintech giant, Ripple continues to send its regular share of XRP tokens to the Chinese trading exchange, Huobi, which is headquartered in Seychelles. The blockchain behemoth helmed by Brad Garlinghouse has been sending 5,275,250 coins to Huobi since June 6. This amount is lower than the 6,679,600 tokens that Ripple transferred to Huobi in the previous week. Ripple has been transferring batches of XRP to Huobi for several months. The company hasn’t clarified the reasons for these transactions to date. At present, XRP is ranked as the seventh-largest cryptocurrency with a market cap of more than $40 billion. Its fully diluted market cap is estimated to be more than $86 billion. The token has emerged as one of this year’s most promising investments. On April 16, XRP reached an all-time high price of $1.8. It is believed that XRP could make significant gains if Ripple manages to win its case against the US Securities and Exchange Commission.
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