XRP Price Skyrockets as 150M Ripple Transaction and SEC Settlement Rumour Take Center Stage
Ripple’s recent surge in XRP transactions and price surge has drawn attention. XRP hit a monthly high of $0.602, reflecting a 30% increase over the past seven days. The trading volume also spiked, with approximately $3.26 billion worth of XRP exchanged in the past 24 hours, marking a substantial 40% increase from the previous day.
Whale Alert confirmed that Ripple moved 150 million XRP, worth $87.49 million, to an undisclosed wallet on July 16, at 18:11 UTC. The unidentified recipient address has sparked curiosity within the crypto community.
The unknown wallet has a history of substantial transactions, including the receipt of 10,000 XRP on July 15, 515,000 XRP on July 11, and 200,000 XRP on July 10.
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This recent transfer is part of a series of significant transactions by Ripple, including two major transactions of 100 million XRP and 200 million XRP on July 1, as well as a transfer of 250 million XRP on June 20.
Following the recent transactions, XRP’s price has experienced continued fluctuations, reaching $0.6063. The cryptocurrency has outperformed the global market, with an 11.51% price increase in the last 24 hours and a 36.52% increase over the past week.
Whale activity has significantly impacted XRP’s recent movements. According to a Santiment report, XRP whales accumulated 3.17 billion tokens by May 28, boosting network activity despite ongoing legal challenges with the U.S. SEC. Wallets holding more than 10 million XRP have shown considerable movement, with a notable increase in holdings after reaching a low 16 months ago. This accumulation is noteworthy given the challenges Ripple has faced.
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