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Large XRP holders have moved massive amounts of these Ripple-connected tokens in large chunks over the past 24 hours, according to data shared by Whale Alert. This cryptocurrency platform tracks big blockchain transactions, sharing the details on its website and Twitter handle.
In the meantime, the XRP price continues to hold in the $0.5 zone.
Whales shovel 462 million XRP
Whale Alert spotted two major transactions made between unknown addresses and carrying 177,149,618 XRP and 177,149,660 XRP (both are the equivalents of slightly more than $91.5 million in fiat).
There were also smaller transfers of 32,996,870 XRP and 30,000,000 XRP made. The first crypto chunk was moved from UpBit exchange to an anonymous wallet. The second transfer was made from an unknown wallet to the Bitstamp crypto trading platform. A total of 50,000,000 XRP was also transferred from major exchange Crypto.com to an anonymous wallet.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 177,149,618 #XRP (91,582,182 USD) transferred from unknown wallet to unknown wallethttps://t.co/9lscCA4L7Q
— Whale Alert (@whale_alert) April 11, 2023
Until late March, the sixth largest cryptocurrency, XRP, traded in the $0.4 range. However, after the banking crisis in the U.S. broke out and Bitcoin soared above the $28,000 level, XRP followed suit, along with other altcoins, and managed to rise to the $0.56 peak. Since then, it has been moving in the $0.5 range.
Over the past 24 hours, though, XRP has seen a decline by nearly 4%, as the price dropped to $0.5039 at press time.
Since that time, XRP whales have become more active, and the number of large transactions on XRP Ledger increased.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 177,149,660 #XRP (91,747,230 USD) transferred from unknown wallet to unknown wallethttps://t.co/vZs200JDtf
— Whale Alert (@whale_alert) April 11, 2023
Ripple-SEC decision anticipated soon
As reported by U.Today, earlier this year during the World Economic Forum in Davos, chief executive of Ripple Labs Brad Garlinghouse stated in several interviews that he is expecting the decision on the SEC's case against Ripple to be made during the first half of 2023.
The lawsuit filed by the securities regulator against the blockchain giant has been continuing since December 2020, when the SEC accused Ripple, Brad Garlinghouse and co-founder Chris Larsen of selling XRP to investors as unregistered securities.
This led many crypto exchanges, including such giants as Coinbase and Binance US, to suspend XRP trading. Many exchanges chose to delist XRP pairs completely.
Vladislav Sopov