Crypto Market Buzz: Bitstamp Receives 29 Million XRP in Major Transfer, XRP’s Price Recovery in Focus

Crypto Market Buzz: Bitstamp Receives 29 Million XRP in Major Transfer, XRP’s Price Recovery in Focus

Crypto News – Bitstamp, a prominent player in the digital currency exchange sphere, has recently witnessed a substantial influx of XRP. Whale Alert, a widely-followed service that monitors large cryptocurrency transactions, reported an impressive transfer of 29 million XRP, valued at approximately $14.7 million, flowing from an undisclosed wallet to the Bitstamp exchange.

A Surge of Significant XRP Transfers

On February 2nd, a remarkable transaction involving 40 million XRP, equivalent to nearly $20 million, was recorded on Binance, highlighting the global allure of XRP. On the same day, Bitso received an impressive 37.9 million XRP transfer, totaling over $19.1 million, further underscoring the international appeal of this cryptocurrency.

Additionally, Bitstamp experienced a substantial inflow of 29.7 million XRP, valued at more than $15 million. Perhaps even more striking, on January 24th, there was a massive transfer of nearly 196.4 million XRP, exceeding $101.4 million in value, from Bitvavo to an unidentified wallet.

XRP’s Price Recovery

Currently ranked sixth by market capitalization, XRP is trading at $0.5042, showing a modest 1.1% increase over the past 24 hours.

After a recent incident involving the hacking of Ripple co-founder Chris Larsen’s personal XRP accounts, resulting in the theft of approximately 213 million XRP, valued at around $112.5 million, the token experienced a significant price decline. However, it has since managed to recover a substantial portion of those losses.