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Ripple, together with the U.S. Branch of the Binance Giant, Have Wired $51.4 Million XRP

Binance.US delisting XRP a week earlier seems to have no effect because Ripple, together with the US branch of the Binance giant wired more than $51 million XRP.

A news publication on utoday claimed that Ripple, together with the U.S. branch of the Binance giant, have transferred more than $51 million despite the fact that XPR has been delisted a week ago. 

The Binance.US had delisted XRP on January 13th. In the past 16 hours, two significant transactions with XRP has been detected. According to the information received, Ripple has wired close to $21 million XRP and Binance.US has shifted $30 million XRP. 

The bitcoin was transferred to the wallets that belong to the exchange. Jimmy ZILLIQA JONES who is a bitcoin investor had this to tweet on Ripple and Binance.US Shift 51.4 Million XRP.

Those who use Ripple know that it frequently uses XRP to cover their operational costs and move bitcoin between its wallets. They do that because it can be sold at the later time. During the writing of this post, XRP is currently ranked 5th on CoinMarketCap.

It was fourth earlier after the spot was taken by Polkadot at the beginning of the year with a trading of $0.2656. January 7th and 11th saw the bitcoin reach the $.035 but was not able to manage to hold on the spot for long. 

XRP’s decline began after the SEC began legal action on Ripple. This was done on December 21st. Besides Ripple, the U.S. security regulator had come heavily on Brad Garlinghouse who is the CEO and Chris Larsen, who is a co-founder. 

Due to the legal action taken against it, several crypto exchanges globally, have avoided using XPR and have taken it down. They have stopped using it on their exchange. Some of the exchanges include Binance.US, Coinbase, and Bittrex, said that they would delist XRP.

It was because of the SEC legal action against Ripple. Balance.US had said on January 13th that it would delist XRP. Investors and others alike have begun questioning the move from Binance.US. 

Meanwhile, Ripple has a team of 21 lawyers to defend their executives in court.

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