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These crypto wallets have earned 100 million XRP in the last 24 hours

It appears that XRP has not fully capitalized on the procedural victory Ripple has taken from its ongoing legal battle with the SEC.

Wealth has increased by almost 2% in the last 24 hours, but is still down 1.6% last week.

Over 14 and 30 days, cryptocurrencies face losses of 5.3% and 7% respectively. On a year-to-date basis, 6th The largest digital currency in terms of market capitalization fell by 58.1%.

The asset continues to deal with price declines as it trades at $0.459, according to tracking from . coin gecko.

Whales seem to be buying XRP depreciation as they try to amass millions of worth of tokens.

Leading wallet holding over $48 million in XRP

Over the past 24 hours, the cryptocurrency space has been busy with an apparent bull run that has boosted the trading prices of nearly all digital assets, while major wallet addresses have also been busy accumulating large amounts of XRP coins. rice field.

According to information shared by tracker Whale Alert, 105 million XRP were traded during this period. Added into a major wallet.

The largest whale activity was a transaction worth $25.8 million related to the Bitstamp crypto exchange.

However, Whale Alert also shared that 100 million units of altcoins worth approximately $45.4 million were moved from a wallet named “Ripple” to an unknown digital address.

In fact, over 205 million XRP moved to unidentified wallets when the cryptocurrency space was in the midst of a long period of bearish momentum.

Ripple Labs secures ‘material documents’ in SEC lawsuit

The SEC recently complied with a court order requiring the release of documents related to a 2018 speech made by former SEC Finance Director William Hinman.

In that particular speech, Hinman reportedly said that XRP’s fellow altcoin, Ethereum, is not a security. This is believed to undermine the SEC’s lawsuit against Ripple Labs as it revolves around alleged sales of the company’s XRP token, which regulators consider “unregistered security.”

The company’s legal team believes this development It gave them victory in a legal battle that lasted nearly two years.

While there is no direct link between this and recent whale activity related to XRP, it makes sense to think that large investors are starting to accumulate as many tokens as possible while prices are still low. It’s suitable.

This is in anticipation of the expected price increase XRP will make when Ripple Labs emerges victorious in its ongoing legal battle.

XRP total market cap at $23 billion on the daily chart | Featured image from Kriptokoin, Chart: TradingView.com

Disclaimer: The analysis is based on the author's personal knowledge and should not be construed as investment advice.

These crypto wallets have earned 100 million XRP in the last 24 hours

Source link These crypto wallets have earned 100 million XRP in the last 24 hours

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