Whales Moved 412M XRP Despite Unresolved Ripple vs SEC Case

XRP's Legal Victory Fuels Speculation: MoneyGram Partnership Potential

The cryptocurrency whale tracking service Whale Alert shares updates on significant XRP movements by high-net-worth investors. 

According to Whale Alert, these mega-rich cryptocurrency investors moved a staggering 412,663,155 (412.66M) XRP in the last 24 hours. The XRP moved by the whale has a value of $142.18M at the current exchange rate of $0.344.

Unidentified Whales Shuffle 179.5M XRP

An anonymous whale sent an enormous 179.5 million XRP worth ($63.13M) to an unidentified wallet during the largest important XRP transfer that occurred yesterday.

The transaction occurred yesterday at precisely 19:54 (UTC). According to Bithomp data, the recipient distributed the tokens to additional addresses using various transactions. Out of the 179.5M, the recipient transferred 40 million XRP to Ripple’s On-Demand Liquidity partners, Bitstamp and Bitso. 

Ten hours ago, the first 40 million XRP coins were sent to the Latin American cryptocurrency exchange Bitso. A few minutes later, the second 40 million XRP coins ($13.92 million) were transferred to Bitstamp. The 179.5M XRP recipient’s address currently has 251 XRP in it at the time of publication.

More Huge XRP Transfer

In addition to the 179.5M XRP transferred earlier by two unidentified whales, Whale Alert also provided information on additional significant XRP transfers. A $15.49 million deposit of XRP valued at 43,974,225 (43.97M) was made to an address on the San Francisco-based exchange Coinbase precisely 21 hours ago by an unidentified crypto trader.

A short while afterward, another unidentified wallet transferred 46,888,930 (46.88M) XRP worth roughly $16.52M to the same Coinbase account.

In the early hours of today, Whale Alert also detected the transfer of a sizable number of XRP. The top cryptocurrency tracking handle reports that an unidentified whale withdrew 62.3 million XRP worth around $21.73 million from a Bitso address.

Read: Deaton and Ripple CTO Slams “Mr. Wonderful” For Criticizing Binance For FTX Crash

Lack of XRP Settlement Didn’t Affect Whales Interest

Despite the ongoing Ripple vs. SEC case, high-net-worth investors are still interested in the asset based on the substantial sums of XRP traded by crypto whales.

Although the expected December 15 settlement between Ripple and the SEC, as rumored by Cardano founder Charles Hoskinson never materialized, XRP whales remain confident that Judge Analisa Torres will rule in favor of Ripple.

Given the numerous legal assessments that back Ripple’s triumph, XRP whales are optimistic that the blockchain firm will prevail. John Deaton, the founder of Crypto Law, is one of the lawyers who think that Ripple and XRP holders will win the lawsuit. Following the SEC’s success over the peer-to-peer content distribution network LBRY, attorney Deaton stated last month that Ripple has a better chance of succeeding in the continuing case.

Deaton claims that Ripple’s defense team disputed the validity of the Howey Test’s second criterion (common enterprise).

“In the Ripple XRP case, the common enterprise is challenged. In fact, the SEC incoherently argued about the common enterprise,” Deaton stated.

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