Hundreds of Millions of XRP Changed Hands in Two Big amounts

According to the famous cryptocurrency monitoring website Whale Alert, approximately 410 million XRP was moved by unidentified wallets during the previous 24 hours.

Meanwhile, the price of the Ripple-related coin has increased somewhat, by roughly 2.5%, during the previous 24 hours. Still, in the previous two weeks, the coin’s price has increased by about 14%, reaching $0.41.

Two XRP transactions holding enormous quantities of the Ripple-affiliated cryptocurrency were identified by the aforementioned crypto monitoring company. 

The larger transaction was placed between two secret crypto addresses. The smaller transaction was performed internally by the large South Korean Bithumb exchange. 

Garlinghouse said that he anticipates the court’s ruling in the SEC’s long-running action against Ripple to be rendered this year, maybe even within the next few months, since all the essential documents have been presented and reviewed by the judge.

The CEO added that he does not expect a settlement will occur since the regulator is unlikely to accept Ripple’s primary condition — that XRP is classed as a non-security moving forward. Therefore, the CEO anticipates that the matter will conclude this year.

Despite the litigation that has been ongoing since December 2020, Garlinghouse claims that Ripple is doing well. The firm has gained many new clients outside of the United States, and XRP is used in almost half of the transactions completed by the company each year, amounting to billions of dollars.

Also Read: DMV Of California To Implement Blockchain For Records Management

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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