An unknown wealthy investor sent an undisclosed address a whopping 253,594,773 (253.59 million) XRP coins worth $103.26M. According to Whale Alert, the transaction happened about 15 hours ago.
The receiver address was generated yesterday by an unidentified crypto user. The assets are still present, according to data from top XRP explorer Bithomp, and the recipient address has a balance of 253.59 million. At the time of writing, the transaction’s reason is unknown.
Along with the previously mentioned transaction, a top whale tracking service for cryptocurrencies also discovered another huge XRP transfer that took place in the previous day. 160 million XRP coins worth $65.53 million were transferred by an anonymous whale to an unspecified address yesterday.
These trades further highlight the cryptocurrency whales’ rising interest in XRP. It is important to note that wealthy investors have persisted in demonstrating their rising interest in the cryptocurrency connected to Ripple.
Recently, crypto whales moved more than 600,000,000 XRP coins in just two days. Given that the Ripple v. SEC lawsuit is almost over, it is not surprising to see crypto whales take a big interest in XRP. The verdict of the lawsuit is anticipated to have a significant impact on how much XRP costs. The price of XRP would rise if Ripple prevailed. The coin’s value will, however, plummet in the event of an SEC victory.
Investors are relying on recent statements made by Ripple CEO Brad Garlinghouse, despite the fact that it may appear difficult to predict the outcome of the lawsuit. Garlinghouse expressed his optimism that Ripple would obtain a favourable verdict against the Securities and Exchange Commission to a news publishing company at the World Economic Forum in 2023.
Surangel S. Whipps Jr., the president of the Republic of Palau, stated in December 2022 that the country’s IT specialists had been looking into the idea of developing a national stablecoin utilising Ripple.
According to the president, it will raise the standard of living for Palauans and diversify the island nation’s economy away from tourism.
After the Covid-19 bull phase, awareness of cryptocurrencies has greatly expanded. By adopting blockchain and cryptocurrency, nations of all sizes are attempting to digitally alter their economies. Others are attempting to develop their own central bank digital currencies, while some central banks are focusing on stablecoins (CBDCs).