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240 MILLION XRP WERE MOVED

 


Whales move millions of XRP coins 

Ripple and the defendants in the XRP lawsuits clinched an extremely important victory yesterday Friday morning. The SEC provided Ripple with the crucial Hinman speech document. However, crypto whales reportedly moved a massive amount of Ripple's native crypto before the XRP news broke.

Whale Alert reports that nearly 240 million XRP (worth approximately $81.08 million) has been moved by multiple whales in the last 24 hours. What's behind it?


Around 100 million XRP were moved from crypto exchange Bitstamp to multiple wallets by the whales. The largest transaction recorded by the tracker was the addition of a whopping $28.34 million worth of XRP cryptocurrencies from the same platform.


However, $63 million worth of XRP cryptocurrencies were moved from an unknown wallet to different wallets. Around 140 million of the XRP tokens are now in motion.


Whale interest in XRP coins is steadily increasing as positive signals were recently reported from the pivotal SEC vs. Ripple case. These large transactions were reported before the major XRP news was released.

In the meantime, however, XRP prices have not reacted to this important update in this case. XRP prices are down around 4% in the last 24 hours. However, the trading volume has increased by around 25% to $1.8 billion.


According to the data, the whales have been accumulating the XRP token since the summary judgment phase in the Ripple lawsuit began. On October 19, 2022, the Whales accumulated around 99 million XRP cryptocurrencies from various crypto exchanges.


Reportedly, $35 million worth of XRP cryptocurrencies were also moved from Ripple to an undisclosed wallet on the same day.


XRP has proven to be more profitable than the biggest cryptocurrencies like Bitcoin and Ethereum over the past 30 days. Ripple crypto price is up around 10%, while BTC and ETH prices are down 3% and 7%, respectively.

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