Wednesday, February 1, 2023
HomeCrypto NewsUnidentified Whale Moves 356M XRP Ahead of Ripple vs. SEC Ruling

Unidentified Whale Moves 356M XRP Ahead of Ripple vs. SEC Ruling

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Leading whale tracking platform Whale Alert has informed the public about significant XRP transactions on and off cryptocurrency exchanges. According to a series of tweets from Whale Alert, prominent cryptocurrency investors moved an amazing 356,794,839 XRP. The value was $138.8 million as of the time of publication.

An UnidentifiedWhale Move $102M Worth of XRP

The biggest transaction occurred about 15 hours ago. The largest cryptocurrency tracking service revealed that an unidentified whale moved a staggering 261,094,839 (261.09 million) XRP valued at $102.4M.

Read also: German Venture Capital Firm Invests in Ripple Ahead of IPO

It’s relevant to note that an unidentified whale created the recipient address yesterday. As of this writing, it is unknown what has caused the significant movement in XRP. However, Bithomp data reveals that the funds are still available in the recipient address, indicating that the transaction may have been made for investment purposes.

Whales Shuffle 95.7M XRP

In addition to the above transaction, cryptocurrency whales have recently moved substantial amounts of XRP. Seven hours ago, an unidentified whale transferred 28 million XRP worth $10.94 million to Bitso.

The same anonymous whale then sent 33 million XRP tokens ($12.94M) in one lump sum to a Bitstamp address a short while afterward.

On the Bitso cryptocurrency exchange, two whales transacted 34.7 million XRP, according to information provided by Whale Alert. According to Whale Alert, the fund’s valuation at the time of the transaction was $13.61 million.

Read article: Ripple vs. SEC: The Cryptocurrency Trial of the Century

Ripple v. SEC Decision Spikes Whale Interest in XRP

The transactions show a rise in cryptocurrency investors’ interest in XRP. The sixth-largest cryptocurrency has attracted new attention as the Ripple v. SEC lawsuit nears its conclusion.

Brad Garlinhouse, the CEO of Ripple, and many other people anticipate that the case will be settled in the first half of 2023. Judge Analisa Torres has received a complete briefing on the case.

Judge Torres is being petitioned for a favorable decision by Ripple and the SEC. The price of XRP will soar dramatically if she rules in Ripple’s favor. However, a victory for the SEC might significantly lower the crypto asset’s price. However, with no apparent concern, whales continue to shift hundreds of millions of XRP daily.

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