240 Million XRP Moved Before Ripple’s Major Win In SEC Lawsuit

Ripple and the defendant in the XRP lawsuits received a major win on Friday morning. The SEC surrender the crucial Hinman speech document to Ripple. However, the crypto whales reportedly moved a huge amount of Ripple’s native crypto before the XRP news broke out.

Whales on XRP accumulation?

Whale alert reported that almost 240 million XRP (worth approx $81.08 million) coins have been moved by multiple whales in the last 24 hours.

Around 100 million XRP were moved by the whale from the Bitstamp crypto exchange to multiple wallets. The biggest transaction recorded by the tracker has been of adding $28.34 million worth of XRP crypto from the same platform.

However, $63 million worth of XRP crypto was moved from an unknown wallet to different wallets. Around 140 million of the XRP tokens are on the move now.

The whales’ interest is on a constant rise as positive signals have recently been reported from the crucial SEC vs Ripple case. These major transactions were reported before the major XRP news broke out.

Will Ripple’s token react to this update?

Meanwhile, XRP prices haven’t reacted to this major update in the case. XRP prices are down by around 4% in the last 24 hours. However, its trading volume has jumped by around 25% to stand at $1.8 billion.

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

While $35 million worth of XRP crypto is also being reportedly moved from Ripple to an unknown wallet on the same day.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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