According to data from on-chain data company Whale , several large XRP transactions have been made in the past 24 hours. Approximately 640 million XRP was moved. Ripple also participated in the move of the asset.
The Whale Twitter account detected 14 transactions that moved XRP amounts from 30 million to 200 million. The largest transaction was made by the Korean exchange Bithumb. Bithumb transferred 200,000,000 XRP. Then 140,000,000 XRP was sent from FTX to Binance.
The remaining 636 million XRP was sent by whales to crypto exchanges such as Bitso, Bittrex, Binance, and Bitstamp. Ripple sent 50,000,000 XRP to its backup wallet named RL18-VN. Ripple usually sends crypto to its external customers, exchanges and financial institutions from this address. According to Bitstamp's TradingView chart, XRP has risen 6.98 percent in the past seven days since September 7.
Latest Situation in Ripple Case
The SEC vs Ripple case has finally begun its crucial Summary Trial proceedings. Lawyer James K Filan reported that both parties in the case presented their motions regarding the process. The Commission moved for summary judgment against Ripple and Defendants. However, the files were submitted under seal. The attorney stated that the SEC made a statement about Daphna A. Waxman. This name was part of the team that started an investigation into Ripple.
Filan emphasized that the commission submitted its memorandum to support its motion for the summary Decision in the Ripple case. Filan also added that Ripple and other defendants have also taken action for Summary Resolution in the SEC vs Ripple case under seal. Publicly edited versions of the sealed documents will be submitted by the parties on 19 September 2022. Meanwhile, John Deaton is considering the possibility that the commission will issue a "settlement" decision in the SEC and Ripple Case. If this settlement is realized, Ripple will be able to conclude the process without further delay by paying the fines imposed on them. The conclusion of the Ripple case could mean a rebound for XRP investors. Of course, if macroeconomic developments allow.