As rumors of a settlement in the Ripple versus SEC case mount, crypto whales have moved more than 392 million XRP tokens in 24 hours.
Details about the transactions
Whale Alert has shared several updates on major XRP moves over the past few days. The recent transactions suggest that whales are still moving large amounts of XRP to and from exchanges.
In the past 24 hours, Whale Alert reported that crypto investors have moved a staggering 392,764,221 XRP tokens. The massive moves come amid rumors of a possible settlement in the ongoing lawsuit between Ripple and the SEC.
Data from the crypto whale tracking service shows that the first transaction in the past 24 hours took place on December 12 at 12:51 AM. Whale Alert revealed that an anonymous whale had withdrawn 38,893,182 XRP worth $14.4 million from Binance, the world’s largest crypto exchange.
A few hours later, two unknown whales moved a total of 188.5 million XRP tokens worth $72.83 million. Whale Alert also noted another transaction in which 30 million XRP was withdrawn from the Bitso exchange by an unknown whale.
Whales move 98 million XRP in one hour
It is striking that only two crypto whales together moved more than 98 million XRP tokens in one hour. In two transactions, the first whale deposited 68 million XRP on Bitstamp. For the first transaction, the whale transferred 28 million XRP to an address on Bitstamp, while the same whale moved another 40 million XRP to the same address on Bitstamp within an hour.
The second XRP whale moved 30 million XRP coins to the Latin American exchange Bitso.
Ripple vs SEC
It is not surprising to see crypto whales move a whopping 392 million XRP in 24 hours. This is because rumors of a settlement in Ripple’s lawsuit against the SEC continue to circulate. In a surprise “Ask Me Anything (AMA) session” over the weekend, Cardano founder Charles Hoskinson revealed that he had heard Ripple settle with the SEC on Dec. 15.
I have heard rumors that the lawsuit will be settled on December 15. That could have catastrophic consequences for the industry one way or another.
—Hoskinson
FOX Business journalist Eleanor Terret debunked Hoskinson’s claims. She noted that FOX Business sources said the parties have no intention of settling.