JAKARTA In the midst of Ripple's feud with the US Securities Commission (SEC), XRP received the spotlight of crypto whale movement tracker Whale Alert. The tracker reported that the whales bought up XRP coins during August.
The big transaction is a positive development for the XRP cryptocurrency itself. The reason is that it shows that interest in XRP has increased among whales.
According to a CryptoBasic report, in August there was a very large amount of XRP transaction worth billions of dollars. It was moved by Ripple, a crypto exchange, and a number of unknown crypto wallets.
Recently, large amounts of XRP transactions have occurred regularly between crypto exchanges and unknown wallet addresses. In August alone, whales bought up XRP worth billions of dollars.
According to reports, about 742 million Ripple (XRP) was transferred on August 30. The day before, an unknown whale withdrew 500 million XRP from the Kraken exchange on August 29. Meanwhile, on August 24, large transactions also occurred in the amount of 340 million Ripple (XRP) A value of 119 million US dollars were bought out on August 24.
It doesn't stop there, as many as 296 million XRP have been sent from the crypto wallet address to Binance on August 19. While large transactions also took place on August 18 and 16. Whales bought 844 million XRP and 300 million XRP.
Such extraordinary activity is a sign of optimism for XRP as it displays a standout attraction from large investors in holding XRP.
Apart from the usual 1 billion tokens opened today from Ripple Escrow, as reported by Crypto Basic, Whale Alert also observed the large XRP movement among whale investors.
Per data shared by Whale Alert, a total of 404 million XRP was bought between unknown addresses and several cryptocurrency exchanges. Then 180 million XRP moved from an unknown wallet to another.
Despite the Ripple vs SEC case, this large transaction shows great investors' optimism for XRP cryptocurrencies. At the time of writing, XRP is trading at a price of IDR 4,987 per coin. XRP ranks 7th in the top 10 cryptocurrencies by market cap.
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