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Whales Shuffle 185M Ripple (XRP), As Price Soar Over 50% in A Week

Whales Shuffle 185M Ripple (XRP), As Price Soar Over 50% in A Week

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XRP price gains momentum as Ripple vs. SEC lawsuit nears final stage.

TheCryptoBasic announced that both Ripple and the Securities and Exchange Commission officially filed for summary judgment last weekend. This gave investors the idea that the trial’s end date was nearing.

As the Ripple vs. SEC litigation draws to a close, XRP, the cryptocurrency linked to the Silicon Valley tech company, has continued to post positive developments over the past week.

The most important development is XRP’s massive rally over the past week. By information from CoingeckoXRP is up 53.8% in the last seven days.

During this time, the price of XRP rose from a low of $0.329 to $0.54. The price of XRP has recovered slightly to $0.50 at the time of writing.

While the parties’ filing of summary judgments is largely responsible for the rise in XRP price, Ripple whaling may also have played a role in the rally.

Hundreds of millions of XRP has been mixed between unknown whales and addresses on cryptocurrency exchanges this month so far. Interestingly, these big events involving XRP don’t seem to be ending anytime soon.

185 million XRP shuffled in 24 hours

Whale Alert, a cryptocurrency whale tracking service, has continued to detect large amounts of XRP being transferred between exchanges and unknown wallets. According to Whale Alert, a total of 185 million XRP were mixed in the last 24 hours in three separate transactions. At the current exchange rate, the value of the assets was 93 million dollars.

The most notable of them all involved the transfer of 95 million XRP by an unknown whale to another anonymous address. At the time of the trade, 95 million XRP were worth $51.18 million.

About 13 hours ago, an unknown whale sent a total of 60 million XRP ($29.17 million) to Bitso, the official partner of Ripple’s On-Demand Liquidity (ODL) service.

An unknown whale also sent 30 million XRP worth $15.12 million to the Bitstamp exchange address.

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