Over the past 24 hours, more than 272 million XRP has been transferred in large transactions, primarily by anonymous crypto whales. Data from Whale Alert, a popular cryptocurrency tracker, shows significant XRP withdrawals from major exchanges, including Binance and Indodax. These movements total just over a quarter of a billion XRP.
Large XRP Transactions Spotted
Whale Alert identified seven large XRP transactions on the XRP Ledger in the past day. Most of these transactions involved leading cryptocurrency exchanges, signaling heightened activity among XRP whales. These anonymous investors are buying and selling XRP in large quantities.
Related article: XRP Slumps 15% After SEC Appeal, Despite Rising Whale Activity
Anonymous whales withdrew 28.9 million XRP from Binance and 30 million XRP from Indodax, valued at $15.1 million and $15.6 million, respectively. They also sent 19.2 million XRP to Bitstamp and moved 30.38 million XRP to Bitso, the Mexican crypto unicorn. Additionally, they deposited 30 million XRP back into Binance.
Significant Anonymous Transaction
One particular transaction caught attention due to its size. An anonymous transfer of 104.38 million XRP occurred between two unknown blockchain addresses, valued at $54.66 million. This massive transaction further highlights the mysterious movement of XRP during this period.
Earlier this week, the U.S. Securities and Exchange Commission (SEC) filed an appeal against a recent court ruling in the Ripple case. The court had previously decided that XRP sales on secondary markets did not count as securities transactions.
Related article: XRP Plummets 23%: Will SEC Appeals Push It Below $0.40?
Ripple had also won a reduction of a $2 billion fine imposed by the SEC, lowering it to $125 million. Ripple CEO Brad Garlinghouse openly criticized the SEC’s appeal.
However, the SEC’s action negatively affected XRP’s market price. Since the appeal was filed on October 2, XRP’s value has dropped more than 9%, falling from $0.58 to $0.52. In total, XRP has lost over 20% of its value since Sunday.
