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Ripple Sends $108 Million XRP to Coinbase, Shiba Inu (SHIB) Sees April's Biggest Bullish Sign,Saylor’s Strategy Scoops $3.6 Billion Bitcoin Gains — U.Today Crypto Digest
TL;DR
Ripple transferred 75 million XRP, valued at $108 million, to Coinbase amid rising ETF inflows. Analysts advise caution against interpreting this as a sell-off.
Key points
- Ripple transferred 75 million XRP worth $108 million to Coinbase
- The transfer occurred amid a surge in spot ETF inflows
- XRP is trading around $1.44
- Analysts caution against viewing the transfer as a sell-off
Mentioned in this story
RippleCoinbase
Ripple hits Coinbase with $108 million XRP transfer
Ripple routes 75 million XRP worth $108 million to Coinbase amid surge in spot ETF inflows.
A large transaction has been recorded on the crypto market, where 75 million XRP, about $108 million at the current rate, was transferred from Ripple wallets to the Coinbase exchange.
Despite the scale and nature of the transfer, there are calls not to rush to conclusions about a "sell-off", instead viewing the incident through the lens of the company's updated business model.
According to Whale Alert and XRPWallets, the funds passed through a chain of Ripple sub-wallets before part of them was deposited on Coinbase. The transaction occurred while XRP is trading around $1.44. The chart shows pressure; however, the asset is holding key support levels.
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Q&A
What was the amount of XRP transferred from Ripple to Coinbase?
Ripple transferred 75 million XRP, which is valued at $108 million.
Why did Ripple transfer such a large amount of XRP to Coinbase?
The transfer coincided with a surge in spot ETF inflows, but analysts suggest not to view it as a sell-off.
What is the current trading price of XRP after the transfer?
XRP is currently trading around $1.44.
What do analysts say about the implications of Ripple's XRP transfer?
Analysts advise caution, suggesting that the transfer should be viewed in the context of Ripple's updated business model rather than as a sign of a sell-off.
