XRP While the price continues to trade above $0.50, pressure remains due to movements from Ripple company and whales. While the company recently moved 120 million tokens, speculation that the tokens would be sold increased fear.
As we reported as Koinfinans.com, the SEC increased speculation by making a move to gain the upper hand in the ongoing case with Ripple.
Ripple and SEC Case Comes to an End: What Will the Final Decision Be for XRP?
The SEC recently won its application to force Ripple to submit its XRP-centric financial statements. These updates have currently exacerbated the volatility in XRP price.
Ripple Attracted Attention by Removing $120 Million of XRP from the Reserve
According to Whale Alert’s post, 120 million tokens were moved from the company’s wallet. The identity of the new address of these tokens, which are worth approximately $60.80 million, is not yet known.
On the other hand, according to Bithomp, Ripple’s XRP reserves are currently around 40.27 million dollars, that is, 80 million tokens. The company, which added 200 million tokens to its reserves on the first day of February, chose to hold an average of 60% of these tokens.
Another transaction by a powerful whale resulted in 28.85 tokens worth $14.62 million being sent to the exchange.
