Popular blockchain tracker Whale Alert, which tracks down large cryptocurrency transfers and shares their details on the X platform, has reported that a substantial amount of XRP – close to 136 million coins – has been moved in the last 20 hours.
Notably, this staggering amount of cryptocurrency was transferred within merely three hours and went in four large transactions. The majority of these funds was withdrawn from the largest cryptocurrency exchange, Binance, by mysterious wallets.
Those transfers took place while the price of the seventh largest crypto, XRP, lost more than 7% over the weekend; since then, it has managed to recover by 3.52%. Over the past week, XRP skyrocketed by an enormous 26%.
136 million XRP on move
According to data shared by Whale Alert, anonymous whales made three transfers, withdrawing millions of XRP from Binance in each of them. Those mammoth transactions carried 33,839,894 XRP; 35,937,321 XRP and 35,937,321 XRP. Each of these XRP lumps is evaluated at approximately $20 million or slightly lower.
Thus, the enigmatic whales have withdrawn roughly $110 million worth of crypto to their wallet.
🚨 33,839,894 #XRP (17,835,456 USD) transferred from #Binance to unknown wallethttps://t.co/dnMQ6b16mN
— Whale Alert (@whale_alert) July 14, 2024
In the meantime, 28,070,000 XRP worth $14,936,884 were deposited to another major cryptocurrency trading venue, Bitstamp. The activity of whales has clearly increased, along with the XRP price surge, as can be seen thanks to this data supplied by Whale Alert.
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Ripple CEO celebrates one-year XRP-not-security verdict anniversary
This weekend, Ripple chief executive Brad Garlinghouse took to his X account to reminisce on the one-year anniversary of an event that was very important not only for Ripple and its vast global community but also for the entire cryptocurrency space.
On July 13, 2023, Federal Judge Analisa Torres announced her ruling, which stated that XRP is not classified as a security when it comes to XRP sales on secondary markets. Garlinghouse tweeted that for him personally that day is a core memory of a crucial victory scored by Ripple against the Securities and Exchange Commission in court.
That even briefly pushed the XRP price to the $0.7 level, but then it returned pretty fast to where it started. At the time of this writing, the Ripple-affiliated cryptocurrency XRP is changing hands at $0.53192.
