Whale Alert, a cryptocurrency tracking service, has discovered a number of astounding XRP transactions that contained approximately 1 billion of these currencies. This shows that interest from investors in XRP as an asset is still quite high.
The San Francisco-based blockchain powerhouse Ripple participated in these transactions. It took place immediately after Ripple on August 1 released an enormous billion XRP from escrow.
Almost 1 billion XRP on move, Ripple shifts 75 million XRP
The information regarding four sizable XRP transfers was disseminated by the aforementioned blockchain tracking firm. At the time of the transfers, the two largest of them each included 424,354,912 and 424,604,934 XRP, valued respectively at $214,293,666 and $221,841,994.
These bits were transmitted by unidentified whales. On August 31, the first chunk of XRP was sent to the wallet rJps4V3s9U87NDAJuGS7qX6mAdWxpcZNeX. The second, somewhat larger XRP chunk was then sent from this address to rp6JBQ4rLrjfXgojhqm8Eikf4nusT8miuk on September 1.
Both of these addresses are listed as “unknown” wallets by Whale Alert and the XRP-focused analytics tool Bithomp, neither of which indicates that they belong to any crypto exchanges.
The Ripple behemoth delivered 75,000,000 XRP to an unidentified cryptocurrency wallet as one of the other two transfers. However, it was discovered that the corporation also owns this anonymous wallet. XRP is typically moved to an internal wallet before being sent to a cryptocurrency exchange when a corporation plans to sell some of its cryptocurrency.
Ripple locks back 700 million XRP; court drama continues
In four sizable transactions on August 1, Ripple released 1 billion of these currencies from escrow as part of its monthly planned release of XRP.
The blockchain giant returned 800,000,000 XRP around 13 hours ago, placing them in escrow until the upcoming release in October.
When the judge concluded that the business’s XRP sales on the secondary market did not constitute as security sales, but that Ripple’s sales of XRP to financial institutions did, the company had won a significant legal battle against the SEC. After that, a number of significant exchanges relisted XRP, driving up the price. In anticipation of a further price increase, many investors started investing in this digital currency once more in the hopes of making good returns from it soon.
The securities regulator then refiled an appeal with the court. Ripple sent a response to the SEC’s appeal request yesterday.
