Ripple Whales Take Action: Hundreds of Millions Flooded the Stock Exchanges!

Nearly 200 million Ripple (XRP) tokens were transferred by major cryptocurrency exchanges in Asia and the USA. According to the data published by Whale Alert, in the last sixteen hours, close to 200 million XRP have been shifted by cryptocurrency exchanges. Let’s look at the details of the processes together…

Major crypto exchanges move 195.5M Ripple (XRP)

According to data shared by the Whale Alert team, in the last sixteen hours, three top crypto exchanges exchanged 195 million XRP tokens. This number is equivalent to 131,742,145 dollars in classical prestige currency. Three cryptocurrency exchanges took part in these transfers. The largest stash of XRP was moved to Binance by the Bybit platform: 109,678,062 XRP (74,586.574 in US dollars). The other three cryptocurrencies were handled by the US-based Poloniex exchange: Three transfers of just over 28,500,000 XRP took place.

Overall, Poloniex moved $57.8 million worth of XRP (85.5 million tokens). Last week Cryptocoin. com

As we reported , crypto giant Ripple has released another one billion XRP tokens from escrow to support the liquidity of the cryptocurrency and cover the company’s operational expenses, a tradition it has followed since 2018. Recently, however, Ripple has begun locking back almost all of the released coins into escrow (usually that equates to around 800 million XRP).

SEC lawsuit dumps XRP price! Here’s what happened…

The seventh most recognizable cryptocurrency, XRP, has dropped more than 2% and is trading in the $0.67 area. This is where the coin managed to recover after falling to $0.5223 on June 22. On June 29, the coin reached the $0.7 price mark but subsequently fell. The massive price drop that XRP has experienced since the beginning of 2021 is due to the lawsuit filed by the SEC. Cryptocoin. com

As we previously reported as , the SEC has officially filed a lawsuit against Ripple in the past months.

Within the scope of this lawsuit, the SEC accuses Ripple and the company’s CEO Brad Garlinghouse and co-founder Chris Larsen of selling unregistered securities worth $1.3 billion through XRP. Also, according to the SEC, XRP has been a security since its launch. After the filing of this lawsuit, there were deep decreases in the XRP price. Cryptocurrency has suffered a loss of more than 80 percent. In addition, after the SEC lawsuit, more than 33 crypto platforms suspended or stopped their XRP processes altogether. However, after the positive developments in the case, some exchanges started to list XRP again.

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