Giant Whale Abruptly Pulled 500 Million Tokens From This Altcoin From The Stock Exchange!

Cryptocurrency According to follower Whale Alert, a staggering 500 million Ripple (XRP) from major crypto exchange Kraken altcoin transferred.

The market value of the transferred tokens corresponds to $161.2 million at the time of this writing.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #XRP (161,221,368 USD) transferred from #kraken to unknown wallethttps://t.co/eZ5jg2huXT

— Whale Alert (@whale_alert) August 29, 2022

Anonymous Whale Pulls 500 Million Altcoins From the Stock Exchange

While half a billion XRP tokens are sent from Kraken wallet to an anonymous crypto address, the token, which is claimed to be the world’s seventh largest cryptocurrency at the time of this writing, is trading at $0.329.

The altcoin’s price has lost approximately 2% in the last 24 hours.

Over the past few weeks, the aforementioned cryptocurrency tracker has reported that large amounts of XRP have been transferred by various top crypto exchanges and Ripple. The San-Francisco-based fintech giant has made millions of dollars in sales.

However, the litigation process and mutual quarrels between the Ripple company and the SEC continue.

As the latest move, an article by the SEC chairman that all cryptocurrencies should be regulated as securities was published in the Wall Street Journal.

In response, the Ripple company lawyer implied that he found this proposal absurd and that the SEC wanted it to allow cryptocurrencies to enter its jurisdiction.

As is known, the SEC claims that Ripple’s XRP altcoin is an unregistered security and claims that the company also sells unregistered securities.

*Not investment advice.