- XRP jumps 25% to sixth on CoinMarketCap after Ripple’s major legal victory over the SEC.
- Whale Alert tracks 200M XRP moved in 24 hours, signaling rising market activity and confidence.
- Ripple’s legal win slashing fines to $125M spurs major XRP whale movements and market shifts.
Whale Alert, a renowned blockchain analytics service, has reported an unusual surge in XRP transactions, totaling nearly 200 million coins exchanged across various platforms. This significant activity comes after Ripple’s recent legal triumph, marking a pivotal moment for the crypto assets.
Whale Alert’s meticulous tracking revealed four major XRP transactions during the last day, cumulatively moving 197.8 million XRP, valued at approximately $114.1 million. The largest of these transactions involved the transfer of 106,406,526 XRP between two anonymous wallets, amounting to $61,418,872.
Further analysis by Whale Alert shows that two other transactions involving 31,724,795 and 36,483,255 XRP, respectively, were directed toward the Binance exchange from undisclosed sources. Conversely, the most minor recorded transaction saw 23,343,246 XRP moving from Binance to an unknown blockchain address.
The flurry of XRP transactions aligns closely with Ripple’s recent legal victory over the SEC. A federal judge significantly reduced the fines demanded from Ripple, cutting them down from $2 billion to $125 million, a substantial decrease, albeit higher than Ripple’s initial proposal of $10 million.
This decision has been seen as a significant win for Ripple, headquartered in San Francisco, and has led to a noticeable 25% increase in XRP’s value. Consequently, XRP has climbed one position on the CoinMarketCap rankings, now placing sixth.
This heightened activity among XRP whales and Ripple’s legal success could indicate shifting investor confidence and market dynamics surrounding the cryptocurrency. As the landscape continues to evolve, investors and analysts alike will closely monitor the impact of these developments on XRP’s market position.
The ongoing transactions and market reactions underscore the volatile nature of cryptocurrencies and the significant influence of legal and regulatory developments on digital assets.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
