Mega-Whale Moves 100 Million XRP Worth Rp1.4 Trillion From Crypto.com To Another Wallet, Who Owns It?

Hundreds of millions of XRP coins transferred to other wallets. (Pixabay)

JAKARTA – A number of major crypto players are transferring their assets from exchanges to their own digital wallets. The mega-whale is rumored to have moved 100 million XRP (worth around IDR 1.4 trillion) from Crypto.com to another crypto wallet. The massive migration took place on March 16, according to a report from tracker Whale Alert.

🚨 🚨 100,000,000 #XRP (76,098,928 USD) transferred from #CryptoCom to unknown wallethttps://t.co/KJG00HH0sw

— Whale Alert (@whale_alert) March 16, 2022

XRP's massive migration didn't stop there. On Thursday 17th March, Whale Alert revealed three XRP transfers took place. A total of 36,400,000 XRP (approximately IDR 520 billion) and 60,000,000 XRP (Rp 857 billion) have been transferred from the Bitso exchange to an unknown wallet. Then a total of 35,049,056 XRP (Rp 500 billion) were removed from the FTX crypto exchange.

This action follows after the Ripple case gained the upper hand because the court rejected the SEC's Fair Notice motion. As of writing, the price of XRP is trading at Rp11,257. XRP has increased by 2.8 percent in the last 24 hours, according to data from Coinecko.

For information, in December 2020, the SEC took Ripple to court alleging that the company and its officials sold XRP as unregistered securities. This caused Ripple to postpone plans to go public.

The first phase of the lawsuit ended on February 28. The regulator's feud with Ripple is predicted to end in November 2022. Despite being blocked by the SEC, Ripple continues to expand its partnerships with banks around the world to facilitate fast and low-cost shipping.

In addition, Ripple will also launch the NFT platform and invite thousands of artists to join. Most recently, the XRP Ledger Foundation launched the initial phase of the Token Assessment Framework, a framework to help provide transparency for investors in the XRP Ledger ecosystem with an increasing number of tokens issued, as announced from the foundation.xrpl.org official website.