Whales Move 109M XRP In One Hour Amid Positive Price Performance 

Whales Move 109M XRP In One Hour Amid Positive Price Performance 

Time Stamp: January 12, 2023 4:52 AM
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Crypto whales shuffle over 100M XRP in one hour

Whale Alert has continued to share details of large XRP movements as the coin records a significant price increase. In one hour, high net-worth crypto users shuffled a whopping 109 million XRP in three transactions. At the current exchange rate, the 109M XRP tokens were worth $40.67M. 

Details of the Transactions

In the first transaction, an unknown whale moved 40 million XRP ($15 million) from an anonymous wallet to a Bitstamp address. 

A few minutes later, the unknown whale also moved another 28M XRP tokens ($10.5M) to an address on Latin American crypto exchange Bitso. Whale Alert observed another significant XRP movement within Bitso. The transaction, which took place within the same hour as the others, saw a Bitso user move 41 million XRP tokens ($15.2M) to another address on the Latin American exchange. 

XRP Records Positive Rally as Ripple Lawsuit Nears Its End 

The recent XRP movements come as the coin’s price records major gains. At press time, XRP is changing hands at $0.373, up 4% in the past 24 hours. The sixth-largest cryptocurrency by market cap has shown strong dominance in the market. Yesterday, prominent market intelligence platform Santiment Feed reported an uptick in XRP price despite a weak broader market performance. 

According to Santiment, XRP gained 6.2% yesterday, while major crypto assets slumped. Santiment stated that the rally was due to a spike in XRP’s address activity and social dominance. 

Per data shared by Santiment, XRP boasts of a social dominance of 1.15% with about 136.19k daily active addresses. XRP has continued to record strong market performance as the lawsuit between Ripple and the SEC edges closer to an end. Top U.S. defense lawyer James K. Filan noted that Judge Torres would decide the summary judgment motion on or before March 31, 2023. 

Each party requests that Judge Torres grant a summary judgment in its favor. Interestingly, top crypto and legal analysts, including attorney Jeremy Hogan, believe Ripple will win the lawsuit against the SEC. Hogan, who likened Ripple to the Jet Li of crypto, said the company has put up the best defense money can buy. 

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