445 Million XRP Moved by Ripple and Anon Whale as XRP Price Expected to Spike in April 2022
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Popular crypto tracker Whale Alert has tweeted that over the last sixteen hours, Ripple tech behemoth wired 200 million XRP tokens after unlocking one billion of them the day before.
Besides, a transaction of a similar size was conducted between anonymous crypto wallets.
425 million XRP shifted by major crypto players
The aforementioned crypto tracking platform published several tweets recently, showing that Ripple has locked 800 million XRP back in escrow after releasing a whopping 1 billion of these coins from it on the first day of 2022.
The company shifted the remaining 200 million XRP to one of its wallets to put these funds to internal use afterwards. This is the equivalent of $168,530,030 in fiat currency.
? ? ? ? ? ? ? ? ? ? 200,000,000 #XRP (168,530,026 USD) transferred from Ripple Escrow wallet to Ripplehttps://t.co/tOaRnK9b9O
— Whale Alert (@whale_alert) January 1, 2022
Whale Alert also tweeted that an anonymous crypto whale had sent a slightly bigger XRP lump - 225,329,020 coins – to another crypto wallet with an unregistered owner. That sum is the eighth largest crypto is worth $190,900,260.
? ? ? ? ? ? ? ? ? ? 225,329,028 #XRP (190,900,252 USD) transferred from unknown wallet to unknown wallethttps://t.co/LlGQGAKzH6
— Whale Alert (@whale_alert) January 1, 2022
Bitstamp moves XRP to BitGo
The third transaction reported by the Whale Alert Twitter handle was Bitstamp moving 20,154,126 XRP to the custodial service BitGo. The latter is used by numerous financial institutions for storing their crypto and last year it was acquired by Galaxy Digital spearheaded by Mike Novogratz – an early Bitcoin and Ethereum investor and a hedge-fund guru.
Yuri MolchanSEC-Ripple case to be over in 2022, will XRP price go to the moon?
At the time of writing this, XRP is struggling in the $0.8 range. As reported by U.Today previously, the lawsuit initiated by the SEC against Ripple in late December 2021 is likely to be resolved in 2022, according to the attorney Jeremy Hogan, who actively follows the development of the case. At his best estimate, the case should be over by April this year.
April is my best estimate. I very much doubt the Ripple case could be strung past summer even in a worst case scenario.
— Jeremy Hogan (@attorneyjeremy1) December 30, 2021
The XRP community believes that the SEC case against Ripple is the only factor that is restraining the coin’s price, so they hope that XRP will skyrocket, when the “legal war” between the crypto giant and the US regulator is over.
Related articles
Arman Shirinyan
Godfrey Benjamin
Vladislav Sopov
Dan Burgin