XRP whales move massive batches of crypto, sending $130,650,000 in transaction volume
XRP whales have been seen moving huge bags of crypto as Ripple’s lawsuit with the US Securities and Exchange Commission (SEC) takes another turn.
First reported by blockchain tracking service Whale Alert, a handful of XRP whales moved over $130 million in crypto in two days this weekend.
In less than 48 hours, Whale Alert reported six transactions totaling 263 million XRP worth around $130.65 million at the time of the transfers.
The transfers include:
- 40,000,000 XRP worth $19.76 million transferred from wallet of unknown origin to Bitso
- 60,000,000 XRP worth $29.64 million transferred from wallet of unknown origin to Bitstamp
- 54,123,746 XRP worth $26.70 million transferred from Bitstamp to wallet of unknown origin
- 25,000,000 XRP worth $12.33 million transferred from wallet of unknown origin to Bitstamp
- 30,000,000 XRP worth $14.76 million transferred from Bitstamp to wallet of unknown origin
- 54,100,000 XRP worth $27.56 million transferred from Bitso to wallet of unknown origin
The series of transfers comes as blockchain analytics firm Santiment says deep-pocketed XRP holders have come alive with renewed optimism surrounding Ripple’s lawsuit with the SEC.
“The price ratio of XRP/BTC has reached a one-year high of 0.000025 BTC [$0.48] about the continued optimism about a potential settlement between Ripple and the SEC. Active shark and whale addresses with one million to ten million XRP have been in an accumulation pattern since late 2020.”
XRP has outperformed the broader crypto markets over the past seven days as optimism rises over the Ripple lawsuit with the SEC. Last week, both Ripple Labs and the SEC filed for summary judgment, which is a request to end a lawsuit before a full trial.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Tithi Luadthong
