467 Million XRP Moved As SEC Files Fresh Motion

XRP News: Ripple’s native crypto, XRP has been trading under uncertainty due to the long running legal tussle with the U.S. Securities and Exchange Commission. However, recent minor wins going against the US SEC has helped the XRP to register major gain. XRP price is up by around 50% on the year to date (YTD) basis.

Also Read: Why XRP Lawsuit Verdict Is Likely To Delay Further

Whales Resume XRP Accumulation Spree?

Coingape reported that the US SEC filed a letter of Supplemental Authority to support its Motion for Summary Judgment. This move comes in as the expected verdict in the XRP lawsuit is closing in. However, crypto whales seem to be reacting to the recent filings.

As per the data provided by WhaleAlert, more than 467 million XRP (Approx worth $235 million) have been moved in multiple transactions over the past 24 hours. The biggest transaction recorded by the tracker has been of moving 177 XRP million (approx worth $91.7 million) to an unknown wallet. However, another 177 million XRP were moved by the whales.

Whales bought around 83 million XRP tokens (approx worth $43 million) in multiple transactions. The biggest accumulation transaction recorded has been of adding 50 million XRP (approx worth $26 million) from the crypto exchange Cryptocom. Read More XRP News Here…

The recent accumulation came when XRP price dropped by around 4% in the last 24 hours. However, XRP has managed to maintain its price over the $0.50 level. Its 24 hour trading volume is down by $1.15 billon.

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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