Crypto Whales Attack In This Altcoin

Alert reports that whales moved 975.1 million tokens in the popular altcoin in less than two hours.

The altcoin, XRP, which Whale Alert, which follows the whale activity on blockchains, carried in less than two hours,…

The largest transaction recorded by Ripple whales was 500 million XRP worth $230.36 million sent from an anonymous wallet to the Ripple Escrow wallet. The second largest transaction seen was the transfer of 300 million XRP worth $138.56 million from an anonymous wallet to Ripple.

According to Whale Alert, 500 million XRP tokens were instantly locked in the Ripple Escrow wallet “escrow,” a feature that allows users to set up conditional crypto payments. In addition, 200 million XRP tokens were also deposited in an anonymous wallet.

It is not possible to say anything clear about the reason for the activity of Ripple whales, but it is believed that the US Securities and Exchange Commission (SEC) will make a decision in favor of Ripple in the lawsuit filed against Ripple and its two senior executives for allegedly selling unregistered securities in December 2020. It seems that believing whales and individual investors have been flocking to XRP for a while. It can be thought that the current mobility is for a decision in favor of the potential Ripple that may come out of the court.

According to data provided by crypto data platform CoinMarketCap, the all-time high (ATH) in XRP was recorded at $3.84 on January 4, 2018, trading at 87.99 percent below XRP’s ATH at current prices.

On the other hand, investors’ eyes are turned to the interest rate decision from the Federal Reserve (Fed) for XRP and the rest of the crypto money market, especially the largest crypto currency Bitcoin (BTC). Expectations are for the Fed to raise interest rates by 75 basis points.