Details of how Ripple moved 55 million XRP between wallets and exchanges

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XRP markets have been busy recently, with the cryptocurrency’s price rising by 13.6 percent in the last 24 hours. Analysts such as Ali Martinez have also indicated that the “downtrend is nearing exhaustion,” signalling a buy signal for XRP amid the pending Ripple-SEC litigation. Furthermore, a number of XRP whale emails, which were previously thought to be dwindling as a result of the SEC’s claims against Ripple, have risen by around 4% in the last week. Santiment researchers discovered that XRP whales are once again amassing the cryptocurrency.

Ripple has enabled the transmission of vast volumes of XRP between wallets and exchanges. According to new data from crypto monitoring firm Whale Warning, the volume transferred in these transactions was approximately 55 million XRP.

Ripple transferred 20,000,000 XRP ($10,007,262 at the time) from and to the addresses shown in the picture below about 17 hours ago.

A Binance address was used in transactions exceeding 35 million XRP. In total, 12,499,995 XRP is transferred in two different transfers to the Binance wallets seen in the picture below.

Source: Twitter/Whale Alert

At press time XRP was trading at $0.56 and has been up by 1.9% in the past hour.

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Soon after SEC accused Ripple, Chris Larsen, and Brad Garlinghouse of illegal security offering through XRP, Ripple moved roughly 39 million XRP or $12,602,808 at the time to this wallet address. Other crypto whales moved 365.7 million XRP in total, within 24 hours, in December last year.

The XRP group was delighted with the new move in the SEC-Ripple case; yesterday, the court in charge fixed a date to address Ripple’s motion requiring the SEC to produce documentation relating to Bitcoin and Ethereum.

According to official documents, the Judge has scheduled a telephonic conference for Tuesday, 6 April with regard to Ripple’s “motion to compel.” Many XRP supporters have been speculating a possibility of a settlement soon, one that could convince crypto exchanges to relist XRP. This could be due to Ripple’s lawyer who insisted that documents concerning BTC and ETH could hold information that may prove that SEC did in fact tell exchanges that “XRP was not security”.

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