Almost 500 Million XRP Shoveled in Last 24 Hours, Ripple Giant Involved

Whale Alert, the blockchain sleuth that traces down large transfers of crypto, has come up with some curious data – over the past 24 hours, anonymous whales have shifted nearly half a billion XRP tokens affiliated with Ripple Labs.

The larger of the two transactions carried more than 400 million XRP.

440 million XRP on move, here's Ripple's role here

The above data source reported that the two XRP transfers followed each other; first, a total of 412,334,412 XRP was sent from one anonymous wallet to another, then 26,500,000 XRP were moved by an unknown blockchain wallet to the Bitstamp crypto trading venue.

The two XRP chunks were evaluated at $213,373,038 and $13,807,682, correspondingly, at the time when those transactions were made.

Bithomp XRP-centered analytics platform shared that the second transfer was made by Ripple Labs blockchain decacorn based in San Francisco, as it moved its regular XRP lump to Bitstamp.

Over the past couple of months, Ripple has been shoveling lumps of XRP worth 26 million – 30 million to Bitstamp and a little less often to Bitso, a Mexico-based crypto unicorn. This persistence in sending tens of millions of XRP to these two exchanges is likely more than simply selling crypto. Both of these crypto trading platforms have been for several years cooperating with Ripple on its ODL project – On-Demand Liquidity, recently rebranded as "Ripple Payments."

It utilizes XRP for high-speed and low-cost international payments using XRP via RippleNet.

Last week, Whale Alert also spotted a transaction that moved a staggering 400,000,000 from one anonymous address to another. After a series of recent Ripple victories in court, the interest of large investors (known in the crypto community as whales) in XRP seems to have seen a new increase.

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Ripple top execs score major win in court

As reported by U.Today, last week, Ripple and the whole XRP community celebrated another major victory of the crypto giant. The U.S. regulatory agency, the SEC, dropped its pending charges against Ripple's chief executive Brad Garlinghouse and Ripple cofounder Chris Larsen. Both were charged by the SEC with selling XRP worth more than $1 billion to financial institutions since 2013.

On this news, the XRP price jumped 5%, but the community believes that the coin did not generate the momentum that this news should have given it.

Still, while Ripple and its community are celebrating this major victory, the SEC is preparing to file an appeal to the court regarding its recent ruling that XRP sales on the secondary market do not qualify as securities.