XRP News: The applications for the highly anticipated Summary Judgment in the US SEC Vs Ripple lawsuit have ended. The crypto community now awaits the court ruling, which is expected to drive regulation around the digital asset market. However, the crypto whales have been caught moving millions of XRP tokens amid the awaited ruling.
XRP whales are already moving
According to WhaleAlert data, crypto whales have managed to move more than 350 million XRP tokens in multiple transactions in the past 24 hours. However, the largest transaction on record was moving 261 million XRP (approximately $102.4 million) to an unknown wallet.
As we dig, whales bought 65.8 million XRP (about $26 million) in multiple transactions in the past 24 hours. The largest whale accumulation transaction on record was the purchase of $13.6 million in XRP tokens. An unknown whale added 31.7 million XRP from the Bitso crypto exchange. Read more XRP news here…
However, a few whale addresses have also dumped millions of XRP tokens amid the recent price surge. Records show that whales moved about 62 million XRPs from unknown wallets to various crypto exchanges.
Ripple is at the top of the highest locked value
Token Unlock dropped one report stating the tokens with the highest estimated locked value according to the current market price. As Ripple releases its native crypto, XRP, from the escrow account over time, it is now the highest valued token locked.
According to current XRP prices, reports suggest that $17.9 billion in XRP is still locked up by Ripple. However, these tokens are released at fixed intervals over time.
XRP price is up 15% in the last 30 days. It is trading at an average price of $0.392 at the time of writing. However, XRP has a circulating supply of 50.7 billion with a market cap of over $19.9 billion.
Ashish believes in decentralization and has a keen interest in the development of Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching a thriller or exercising outside. Reach me [email protected]
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post XRP Surpasses Highest Estimate of Highest Locked Value; Whales move 356 million XRP
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