According to reports, the price of Ripple’s native coin XRP has skyrocketed by about 50% in the last few days. This development comes even as a staggering amount of the aforementioned digital currency – 315 million XRP, has been moved by top-tier crypto exchanges within the last 20 hours.
XRP, currently the eighth-largest digital currency, experienced a price spike to $0.9097 amid big crypto exchange transfers. In addition, the 50% increment in price was a gradual week-long accumulation of several smaller price increments. For instance, XRP reportedly surged by more than 15% on February 2nd before registering the same percentage gain three days later. So far today, the crypto has added another 20%+, which now sees its current monthly high of $0.9, a first since January 2nd.
The top-level crypto exchange platforms involved in the transactions include Binance, Bittrex, and Bithumb. For instance, BINANCE transferred 17,960,902 XRP worth $15,435,581, while Bithumb made two transfers worth 40 million XRP, or more than $36 million. Both exchanges moved the funds internally between their wallets. However, Bittrex funneled 65 million XRP in two batches to the Upbit exchange in South Korea.
In addition, on-chain data company Santiment pointed out a surge in the activity of XRP addresses to levels last seen in late December.
