Whale Alert crypto tracker has reported that, in the past 10 hours, two Ripple-initiated transactions have been noticed, carrying a total of $347,855,136.
In the meantime, XRP has briefly surged to the $0.52 level but has rolled back down by now.
Ripple moves 785 million XRP tokens
According to data shared by Whale Alert, the Ripple crypto heavyweight has made two transfers, moving a whopping 745,669,248 XRP (equal to $330,204,163) and 40,000,000 XRP (the equivalent of $17,650,973).
The money has been shifted between Ripple's internal wallets.
Ripple keeps signing up new companies to RippleNet
After the Ripple and MoneyGram remittance giant terminated their partnership recently, the fintech giant has sold all of the GMI it had kept. Besides, Ripple continues to defend itself in court, fighting off SEC prosecutors in the lawsuit that began in late December 2020.
Still, despite the lawsuit and the fact that XRP has been delisted by multiple exchanges—including big ones like Coinbase, Bittrex and Binance US—the company has managed to sign fifteen new contracts with banking institutions since the SEC filed legal suit.
Further, as reported by U.Today earlier, Ripple lawyers have asked the federal judge to compel the SEC to produce in court its documents collected on Bitcoin and Ethereum.
Unlike XRP, the two major cryptocurrencies have been defined by the regulator as non-securities for a long while already.
Godfrey Benjamin
Tomiwabold Olajide
Arman Shirinyan