In the dynamic world of cryptocurrency, recent developments surrounding Ripple and XRP have created excitement among investors and enthusiasts alike. On the other hand, three significant events have occurred, each with their own unique implications for the altcoin space. Here are the details…
Big XRP movements attracted attention
On October 22, 2023, cryptocurrency tracking service Whale Alert reported two significant XRP transactions worth millions of dollars each. The first transaction involved the movement of 412,334,412 XRP tokens, equivalent to a staggering $213 million. Shortly after, a second wallet transferred 26,500,000 XRP worth $13 million. The origin of the second transaction, attributed to Ripple Labs and directed to the Bitstamp exchange, is particularly interesting. This is not surprising, as Ripple Labs has a history of sending significant amounts of XRP to Bitstamp and Bitso, two of Mexico’s leading cryptocurrency exchanges. These transfers generally consist of 20 to 30 million XRP altcoin projects. These latest transactions are part of Ripple Labs’ broader strategic alliances with Bitstamp and Bitso. In early October, 100 million XRP tokens were transferred to these exchanges.
The basis of these transactions lies in Ripple’s ongoing legal fight with the US Securities and Exchange Commission (SEC). Over the past few months, Ripple has achieved several legal victories against the SEC. Notably, in July, XRP experienced a surge following Judge Torres’ court decision declaring that XRP was not a security. This marked a very important victory for Ripple. The culmination of each legal victory witnessed the movement of significant XRP tokens by whale investors. Just last week, Whale Alert reported that 400 million XRP tokens were transferred from one anonymous address to another. Ripple’s string of regulatory victories has fueled optimism and fueled price predictions, with some analysts even predicting that XRP’s price will reach an impressive $240 per token.
Beyond XRP, these 2 altcoins are also on the agenda
In addition to Ripple’s XRP-related news, there have been other notable crypto transfers worth mentioning. According to Ember Monitoring, on October 24, address 0xdFD transferred 1 million UNI worth $4.33 million to Wintermute’s Kraken deposit address. The same address had received 3 million UNIs worth $13 million from the UNI Foundation custody address earlier in the day.
Additionally, Ember Monitoring reported that a whale address pulled 61,764 AAVE from Binance, worth approximately $5.43 million. This address currently holds a total of 236,779 AAVE, which is approximately $20.82 million at an average price of $74.5 per coin. Such significant withdrawals from exchanges underscore the influence of large investors in shaping the crypto market. Looking ahead, we see that the cryptocurrency world is ready for change.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.