As an experienced cryptocurrency analyst with a background in finance and technology, I have closely monitored the recent activity surrounding XRP, the digital asset native to the Ripple payment platform. The latest developments, as reported by Whale Alert and other reliable sources, are particularly noteworthy.
Expert: Whale Alert, a cryptocurrency monitoring platform, has identified two significant transfers of over $30 million in XRP. Notably, these transactions occurred concurrently with a notable 7% surge in XRP’s price value during the nighttime hours.
52 million XRP transfers spotted
A well-known cryptocurrency tracking platform has identified the transfer of two significant XRP amounts. One of these transactions involved depositing the XRP to a prominent digital currency exchange, while the other transaction was for withdrawing XRP from a comparable platform.
Based on Whale Alert’s data, approximately 23.6 million XRP were moved from Binance to an unidentified wallet, followed by a transfer of around 28.1 million XRP to Bitstamp about 13 hours later. The first transaction was worth roughly $14.1 million, and the second one had a value of approximately $16.6 million.
Based on new information obtained from Bithomp’s XRP explorer, the Binance transaction occurred between two of their wallets. On the other hand, the second transaction, which was headed for Bitstamp, originated from a wallet linked to San Francisco-based cryptocurrency giant Ripple.
Bitstamp is among the many cryptocurrency platforms collaborating with Ripple for its worldwide payment solution, known as “Ripple Payments.”
Ripple CEO makes statement on case against SEC
In a recent interview with Bloomberg, Ripple’s CEO, Brad Garlinghouse, expressed optimism that the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) will come to an end “soon.”
He declined to comment on specific timelines or the alleged upcoming talks over a potential resolution between Ripple and the US securities regulator, the SEC, as mentioned in a previous U.Today article. According to earlier reports, the two parties were set to meet privately on July 25th.
Approximately a year ago, Judge Analisa Torres of the Federal court determined that XRP did not meet the criteria to be classified as a security on the secondary market. However, the Securities and Exchange Commission (SEC) persists in its efforts to argue that XRP could indeed be considered a security when it was sold by Ripple to financial institutions.
Last week, speculation over potential settlement negotiations between the SEC and Ripple caused the XRP price to surge by an impressive 17%, climbing from $0.54 to $0.63. However, this uptrend was short-lived as the price plummeted by 14% the day after.
Over the past few days, fromFriday up until now, onMonday, XRP has experienced a significant gain of approximately 14%. However, following a minor setback causing a decrease of 2%, its current market price is at $0.60699.
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2024-07-22 18:24