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According to respected blockchain sleuth Whale Alert, which monitors high-volume cryptocurrency transfers, a massive amount of cryptocurrency has been moved over the past two hours. This transfer carried almost $107 million worth of the fourth-largest coin, XRP.
This aligned with a substantial XRP price move upward triggered by important recent developments on the market.
$106,691,613 in XRP on move
The above-mentioned source revealed that a significant amount of crypto, namely 46,495,041 XRP worth $106,691,613, has been transferred between two wallets marked by Whale Alert as anonymous. XRPscan did not shed any light on the source or destination wallets, confirming that their owners are unknown.
Still, this blockchain transfer sparked a hot discussion in the XRP community as to the nature of this transaction, whether it was an OTC buy or sell, or whether XRP bulls are coming back, etc. Many crypto enthusiasts in the comments pointed out the large size of the XRP chunk in question.
XRP price jumps 9.48% in light of these developments
It happened while the XRP price shook from market volatility, first rising by 4.25% and then rebounding by 1.49%, by now soaring 2.13% again. At press time, XRP is changing hands at $2.3409. Overall, the price surge since Thursday comprises 9.48%.
One of the triggers for this price surge was the bullish price action of the world’s largest cryptocurrency, Bitcoin. On Thursday, BTC soared above the much-anticipated $100,000 level, hitting $103,800 for the first time since January.
Another crucial driver was that the SEC submitted an official letter to Judge Analisa Torres (who led the SEC-Ripple case) to confirm that the regulatory agency has reached a final agreement with blockchain company Ripple to settle their legal war that had lasted for almost five long years.
Vladislav Sopov