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Popular crypto tracker Whale Alert has tracked several large XRP trades over the past day and has noticed large XRP withdrawals from the world’s top crypto exchanges.
In total, just over 250 million XRP was mysteriously scraped from these crypto trading platforms by anonymous crypto whales.
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Huge XRP outflows hit top exchanges
The aforementioned data source detected 7 large XRP transactions that occurred on the XRP Ledger in the past 24 hours. Since most of them featured large cryptocurrency exchanges, this indicates that XRP whales appear to be strictly buying and selling XRP, and their activity is increasing.
A massive leak was discovered as anonymous whales withdrew XRP from Binance and Indodax exchanges – 28,900,823 and 30,000,000 XRP (worth $15,126,001 and $15,689,469). Exchanges like Bitstamp, Bitso, and again Binance received large deposits from anonymous market participants.
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19,220,000 XRP went to Bitstamp, 30,380,000 XRP went to Mexican crypto unicorn Bitso, and finally 30,000,000 XRP went to Binance.
One transaction on this list stands out because it carried a staggering 104,384,848 XRP and was executed between two unknown blockchain addresses, according to Whale Alert data. This XRP chunk is worth 5$4,662,653.
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SEC appeals Ripple case
As U.Today reported earlier this week, regulator SEC has finally decided to challenge and appeal the court’s recent ruling on the Ripple case. The deadline was Oct. 7, so the Securities and Exchange Commission had just met its deadline in the final days.
Last July, Federal Judge Annalisa Torres ruled that secondary market sales of XRP are not sales of securities. Ripple scored another victory against the SEC this year when a judge reduced the SEC’s $2 billion fine against Ripple to $125 million.
Ripple CEO Brad Garlinghouse criticized regulators for the move. Still, XRP prices have felt the full fallout of the appeal, falling more than 9% since the SEC appealed the loss on Wednesday. After crashing from the $0.58 level on October 2nd, XRP is currently trading at $0.52. Overall, XRP has lost more than 20% of its market value since Sunday.
