Cryptocurrency whales have continued to show significant interest in XRP
According to Whale Alert, a leading cryptocurrency whale tracking service, an unidentified deep-pocketed investor transferred a whopping 253,594,773 (253.59 million) XRP coins worth $103.26M to an unknown address. Whale Alert noted that the transaction took place around 15 hours ago.
Details About the Transaction
TheCryptoBasic discovered that an unknown crypto user created the recipient address yesterday. Data from leading XRP explorer Bithomp show that the funds remain intact, and the recipient address holds a balance of 253.59 million. The rationale behind the transaction is unknown at the time of writing.
Another Whale Moves 160M XRP
Aside from the abovementioned transaction, Whale Alert also reported another large XRP transfer that occurred in the past 24 hours. Yesterday, an unknown whale moved a whopping 160 million XRP coins ($65.53M) to an unidentified address.
Whales Interest in XRP Soars
These transactions further show the growing interest in XRP among cryptocurrency whales. It is worth noting that deep-pocketed investors have continued to showcase their growing appetite for the Ripple-affiliated cryptocurrency.
As reported earlier by TheCryptoBasic, crypto whales shuffled over 600M XRP coins in two days. It is not surprising to see crypto whales develop massive interests in XRP, given that the Ripple v. SEC lawsuit is close to its end. The outcome of the lawsuit is expected to play a huge role in determining the price of XRP. A win for Ripple would cause the XRP price to surge. However, an SEC will cause the coin’s price to plunge.
While it may seem difficult to predict the outcome of the case, investors are relying on comments recently made by Ripple CEO Brad Garlinghouse. At the World Economic Forum 2023, Garlinghouse told CNBC that he is optimistic Ripple would get a favorable ruling against the Securities and Exchange Commission.
