Whales Moves 220 Mln XRP As Ripple Drops Report On CBDC

XRP News: Ripple’s native crypto, XRP is seeking a breakthrough amid the pending Summary Judgement in the long running legal tussle with the U.S. Securities and Exchange Commission (SEC). As the XRP lawsuit continues, Ripple has been spotted expanding outside the U.S. However, Ripple has issued a report on the future of Central Bank Digital Currency (CBDC).

Also Read: Will Coinbase Relist XRP? Exchange Legal Chief Responds

Ripple Moves Ahead To Promote CBDC

As per the report, Ripple estimates that CBDCs could grow from $100 million today to $213 billion by 2030. It stated multiple examples of why this surge might come ahead.

Ripple mentioned that the Central Bank of Brazil is launching a CBDC by 2024. While the Central Bank of Montenegro also pitched a pilot project around CBDC with Ripple. However, the Bank of England is expected to move forward with work around a digital pound.

It added that Digital Currency Monetary Authority dropped the Universal Monetary Unit (UMU) designed to push cross border transactions. Read More XRP News Here…

 Also Read: Can US SEC Win Against Ripple With Howey Test?

As Ripple moves ahead to advocate CBDC, Crypto whales have moved millions of XRP tokens. Data depicts that whales moved around 223 million XRP (approx worth $95 million) in multiple transactions over the past 24 hours. However, the biggest transaction recorded by the tracker has been of moving 113.3 million XRP (approx worth $51.6 million) among unknown wallets.

However, whales have moved 60 million XRP (approx worth $13.3 million) in order to dump the token. A whale address moved 31 million XRP (approx worth $13 million) to the Bitstamp crypto exchange.

Meanwhile, a whale address accumulated 50 million XRP (approx worth $21.8 million) amid the recent price dip. XRP price is down by 3% in the last 24 hours. It is trading at an average price of $0.42, at the press time.

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.