🔈Massive XRP Transfer from Ripple❗️
Ripple transferred 100 million XRP tokens worth approximately $57.9 million to an unknown wallet on September 18, amid increased regulatory scrutiny
The fact that this large transfer occurred amid increased regulatory scrutiny has drawn the attention of market watchers and analysts.
Details of Ripple’s Transfer and Subsequent Transactions
According to Whale Alert, the source of the transfer was an address affiliated with Ripple.
Shortly after the initial transfer, 19.957 million XRP was transferred to another Ripple wallet
The funds were then sent to various exchanges. The largest portion (19.7 million XRP) was sent to Bitso, while 257,000 XRP was sent to Bitstamp.
The transfer of such a large amount of XRP is noteworthy, considering Ripple’s ongoing legal troubles.
The SEC has filed a lawsuit against Ripple for selling unregistered securities, and the appeal deadline is approaching.
Ripple was granted permission to withhold $125 million in payments until the October 6th deadline.
Some analysts believe that the XRP transfer could be part of Ripple’s legal strategy.
Others are concerned about a potential sale, as some of the transferred XRP is on exchanges.