Whales Moves 392M XRP Around After Ripple Settlement Rumor

XRP Price Poised for Takeoff, But Can It Overcome Past Resistance?

Recent days have seen information concerning significant XRP moves shared by Whale Alert, a cryptocurrency whale tracking service. According to the most recent transactions, whales are still moving huge sums of XRP to and from exchanges.

According to Whale Alert, these high-net-worth cryptocurrency investors have moved a staggering 392,764,221 (392.76M) XRP tokens in the last 24 hours. The significant XRP movement coincides with the spread of reports regarding a potential resolution to the prolonged legal battle between Ripple and the SEC.

Read also: Ripple Vs. SEC: A New Deadline Has Been Set By Both Parties

Full Details of the Transactions

According to data from the crypto whale tracking website, the first transaction in the past 24 hours occurred on December 12 at 11:50 UTC. According to Whale Alert, an unidentified whale withdrew from Binance, the biggest cryptocurrency exchange in the world, with 38,893,182 (38.89M) XRP valued at $14.4M.

About six hours ago, two unidentified whales moved a total of 188.5 million XRP, or $72.83 million, in one transaction. Whale Alert also saw another transaction in which an unidentified whale withdrew 30M XRP ($11.67M) from the Bitso exchange.

Another Binance user withdrew 37,371,039 XRP tokens ($14.14M) to an unidentified address in the hours before the publication of this article.

Read more: Defeating Ripple’s Executives Will be Difficult, Says Deaton

In One Hour, 2 Whales Moved 98M XRP

Two crypto whales moved a combined 98M XRP in one hour. The first whale transferred 68M XRP in two transactions to the Bitstamp exchange. The whale moved 28 million XRP ($10.92 million) in the initial transaction and then, within an hour, moved another 40 million XRP ($15.55 million) to the same Bitstamp address.

The second XRP whale sent 30 million XRP tokens worth $11.67 million to the Latin America-based exchange, Bitso. 

Ripple vs. SEC Settlement

It is not unexpected that cryptocurrency whales moved a staggering 392 million XRP in a single day, given the persistent rumors of a Ripple case settlement. Charles Hoskinson, the founder of Cardano, disclosed that he had heard rumors that a settlement between Ripple and the SEC might occur on December 15 during a surprise “Ask Me Anything (AMA)” session over the weekend.

“I’ve heard rumors that the Ripple case will be settled on December 15,” Hoskinson said. “And we’ll just see, and that could have catastrophic implications for the industry, one way or the other.”
Since the rumor became public, XRP whales have continued to respond by transferring large amounts of crypto assets. Eleanor Terret, a journalist for FOX Business, refuted Hoskinson’s assertions. She mentioned that those familiar with the matter for FOX Business claimed that the parties have no plans to settle.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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