200 Million XRP in 24 Hours — What’s Going On?

Popular blockchain analytics platform Whale Alert, which tracks down large cryptocurrency transactions and publishes the details on their X handle, has detected four large XRP transactions during the last 24 hours.

One of them carried more than 100 million XRP coins.

Close to 200 million XRP on move

According to Whale Alert, the aforementioned transfers moved 197.8 million XRP in total, which is equal to $114.1 million in fiat. The largest transaction was conducted between anonymous wallets, and it constituted 106,406,526 XRP (worth $61,418,872).

🚨 🚨 🚨 106,406,526 #XRP (61,418,872 USD) transferred from unknown wallet to unknown new wallethttps://t.co/5CRCRUxpwY

— Whale Alert (@whale_alert) August 9, 2024

Two transfers, they were of a medium tier in terms of their size, shoveled 31,724,795 and 36,483,255 XRP. Both XRP chunks were deposited to the Binance exchange from anonymous wallets. The last transaction, and the smallest one, was a withdrawal of 23,343,246 XRP from Binance to an anonymous blockchain address.

XRP whales’ activity increases with Ripple’s legal victory

Recently, the activity of XRP whales was quite high. It intensified earlier this week when Ripple bragged about the recent victory in court against the Securities and Exchange Commission (SEC). Federal judge ruled that the $2 billion amount of fines and penalties demanded by the SEC regulator from Ripple was to be reduced to $125 million. Even though it was much more than Ripple suggested paying initially ($10 million), still it was a 94% reduction of the massive fine demanded by the SEC.

This legal victory of the blockchain behemoth from San Francisco pushed the XRP coin 25% up and helped it advance from the top seventh position to the sixth one on the CoinMarketCap scale.

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