Wednesday, May 5, 2021

Crypto Whale Moves 610 Million XRP within Huobi As XRP Surges To 0.51

Whale Alert, the tracker of large cryptocurrency transactions, has detected a huge movement of XRP within the crypto trading giant Huobi.

According to the crypto transaction tracker, the sum of XRP tokens moved by a large crypto holder within the crypto exchange was 610 million worth about $278.5 million at current prices.

Read Also: Ripple Locked Back 900 Million XRP Out of 1 Billion XRP Unlocked, Focuses On OTC Sales

Huobi Moves 610 million XRP, Coinbase Transfer 10 Million XRP

According to the data shared with the crypto community by Whale Alert, in the past couple of hours, Huobi Exchange based in China has wired about 600 million XRP in three transactions.

The transactions carrying 100 million, 200 million, and 300 million XRP were initiated between the internal wallets of the exchange, probably between its hot and cold storage vaults.

Crypto Whales Moves 610 Million XRP within Huobi As XRP Surges To 0.51
Courtesy of Whale Alert Twitter

Read Also: Kraken to Suspend XRP Trading For United States Residents

In another tweet, Whale Alert also informed the cryptocurrency community that a crypto wallet holder sent 10 million XRP to the Binance exchange. According to data from Bythomp analytics provider, the sender was the US-based exchange Coinbase.


XRP Rises to $0.51 as ETH and BTC hit new all-time highs

After holding at the $0.46 mark on Tuesday, XRP token has now managed to rise to the $0.53 level and, at press time, is trading at $0.51, according to data shared by CoinMarketCap

So far, XRP has made it back into the top five, having reclaimed fifth place from Polkadot (DOT).

Recently, XRP has risen from the $0.37 price mark up to $0.51 area as Bitcoin and Ethereum have been growing in price: Ethereum has surged from the $1,524 area to yesterday’s all-time high of $1,800.

Read Also: Despite SEC’s Lawsuit, Ripple Unlocks about 1 Billion XRP, Sends 477 Million XRP to Jed McCaleb

As for the flagship cryptocurrency, Bitcoin has scored two consecutive all-time highs since Monday, Feb. 8: $44,000 and $48,000.

Both all-time highs were driven by Tesla’s announcement about allocating almost ten percent of its cash reserved, an eye-popping $1.5 billion, into Bitcoin.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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