Crypto Whales Shuffle Nearly 600 Million XRP As Price Slumps 3%

Whales have moved astounding amounts of XRP tokens over the past 24 hours.

Whale Alert reported large amounts of XRP movement made by crypto whales. Over the past 24 hours, these deep-pocketed investors moved a whopping 592,258,033 (592.25M) XRP worth $222 million in different transactions.

The most significant of these transactions took place around 11 hours ago. According to Whale Alert, an unknown wallet shifted 232M Ripple-affiliated tokens worth $88.2M to another unidentified address.

? ? ? ? ? ? ? ? 232,000,000 #XRP (88,721,867 USD) transferred from unknown wallet to unknown wallethttps://t.co/bZvmAsdY6C

— Whale Alert (@whale_alert) February 12, 2023

A few minutes later, another significant XRP transaction between two anonymous whales. This time, an unknown cryptocurrency whale moved 218 million XRP tokens ($84.15M) to another anonymous user.

? ? ? ? ? ? ? ? 218,000,000 #XRP (84,153,392 USD) transferred from unknown wallet to unknown wallethttps://t.co/oW8d93Yz5K

— Whale Alert (@whale_alert) February 12, 2023

142M XRP Shifted on Exchanges

Cryptocurrency whales also shifted vast amounts of Ripple-affiliated tokens on crypto exchanges like Bitstamp and Binance. Per Whale Alert, an unknown user withdrew 35,258,033 (35.25M) XRP worth $13.48M from top cryptocurrency exchange Binance.

Around 10 hours ago, Whale Alert reported that an unknown wallet moved 26M XRP valued at $9.98M to the EU-based cryptocurrency exchange Bitstamp. In a similar development, another Bitstamp user moved 37 million units of Ripple-affiliated tokens worth $14.23 million to the crypto trading platform.

? 37,000,000 #XRP (14,230,084 USD) transferred from unknown wallet to #Bitstamphttps://t.co/U0PFEkiwkw

— Whale Alert (@whale_alert) February 12, 2023

In addition, an unknown whale withdrew 44M XRP ($16.87M) from the Latin American exchange Bitso.

? 44,000,000 #XRP (16,869,516 USD) transferred from #Bitso to unknown wallethttps://t.co/5oudrkNabJ

— Whale Alert (@whale_alert) February 12, 2023

The transaction comes when the XRP community anticipates the final ruling on the lawsuit between Ripple and the SEC. XRP community members are optimistic that the court will grant summary judgment in Ripple’s favor due to predictions made by attorney John Deaton.

Based on this optimism, whales have embarked on a shopping spree for XRP. These deep-pocketed investors took advantage of low XRP prices to scoop up extensive amounts of the cryptocurrency yesterday. At press time, XRP is trading at $0.374, down 3%, according to data from Coingecko.

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