As Ripple vs. SEC settlement rumors set in, Crypto whales move over 392M XRP in 24 hours.
Whale Alert, a crypto whale tracking service, has continued to share updates about large XRP movements in recent days. The recent transactions suggest that whales are still shuffling large amounts of XRP to and from exchanges.
Over the past 24 hours, Whale Alert reported that these high-net-worth crypto investors shuffled a whopping 392,764,221 (392.76M) XRP coins. The massive XRP shuffling comes as rumors about a possible settlement in the ongoing lawsuit between Ripple and the SEC set in.
Details of the Transactions
The crypto whale tracking service data shows that the first transaction in the past 24 hours occurred on December 12 at 11:50 UTC. Whale Alert indexed that an anonymous whale withdrew 38,893,182 (38.89M) XRP worth $14.4M from Binance, the world’s largest cryptocurrency exchange.
— Whale Alert (@whale_alert) December 12, 2022
About six hours ago, two unknown whales shuffled a total of 188.5M XRP worth $72.83M in a single transaction. Whale Alert also observed another transaction involving the withdrawal of 30M XRP ($11.67M) from Bitso exchange by an unknown whale.
In the hours leading up to press time, another Binance user withdrew 37,371,039 XRP tokens ($14.14M) from the exchange to an unknown address.
— Whale Alert (@whale_alert) December 13, 2022
2 Whales Move 98M XRP In One Hour
Two crypto whales moved a combined 98M XRP in one hour.
In two transactions, the first whale deposited 68M XRP to the Bitstamp crypto exchange. For the first transaction, the whale transferred 28M XRP ($10.92M) to an address on Bitstamp, while the same whale moved another 40M XRP ($15.55M) to the same Bitstamp address within an hour.
The second XRP whale moved 30M XRP coins ($11.67M) to the Latin American exchange Bitso.
Ripple vs. SEC Settlement
It is not surprising to see crypto whales shuffle a whopping 392M XRP in 24 hours as rumors of a settlement in the Ripple lawsuit continue to make rounds. In a surprise “Ask Me Anything (AMA) session” over the weekend, Cardano founder Charles Hoskinson revealed that he heard rumors that a settlement between Ripple and the SEC will take place on December 15.
“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.”
XRP whales have continued to react to the rumor since it became, with vast amounts of the crypto asset shuffled. However, FOX Business journalist Eleanor Terret debunked the claims made by Hoskinson. She noted that FOX Business’ sources who know the case said the parties are not planning to settle.