357 Million XRP Moved WhIle Coinbase stops Support

XRP News: XRP, Ripple’s native crypto has faced much resistance from different platforms due to the US SEC launching a lawsuit against it. However, these troubles haven’t stopped whales from accumulating the token. However, positive XRP news coming from the crucial lawsuit has helped it to stay relevant in the market.

Are whales on XRP adding spree?

Whales seem to be motivated toward XRP even after the long running lawsuit. As per WhaleAlert, more than 357 million XRP (approx worth $141 million) have been moved by whales in multiple transactions.

Data depicts that whales added over 51.6 million XRP (approx worth $21 million) in the last 24 hours. The largest transaction recorded has been of acquiring $10.5 million from the Bitso crypto exchange.

While more than 280 million XRP (approx worth $110 million) has been moved from unknown wallets amid price fluctuations. However, whales have moved $10.1 million worth of XRP to the Bitstamp crypto exchange.

On the market side, XRP price is up by more than 2% over the past day. It is trading at an average price of $0.4, at the press time. It is holding a market cap of over $20.1 billion despite the facing legal troubles from the SEC.

Coinbase halts support

Coinbase announced that after doing careful evaluation they will be removing support for several networks. This is done due to low activity on Coinbase wallets. This includes cryptos like XRP, BCH, ETC and XLM.

It mentioned that this does not mean that user assets will be lost. The unsupported asset that they hold will still be tied to the address. It will be accessible through the Coinbase recovery phrase.

Earlier, Coingape reported that Attorney dropped the updated schedule in the XRP lawsuit. He mentioned that sealed replies for summary judgment opposition will be due by November 30, 2022. However, redactions are due by December 2, 2022.

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]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.