2024

April

<p>The post <a href="https://coinpedia.org/news/why-this-whale-moved-53m-xrp-just-before-sec-deadline-of-29th-april/">Why This Whale Moved 53M XRP Just Before SEC Deadline Of 29th April</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the midst of a turbulent day for major cryptocurrencies, <a href="https://coinpedia.org/price-analysis/xrp-price-analysis-top-crypto-expert-forcast-xrp-price-to-skyrocket-to-4-to-4-by-july/" target="_blank" rel="noreferrer noopener">XRP faces a 2.3%</a> dip alongside a broader market selloff. However, the spotlight is on significant whale movements of 53 million XRP just ahead of the SEC filing deadline on April 29, raising questions about the motives behind these transactions amid the ongoing legal battle with Ripple Labs.</p> 
<h2 class="wp-block-heading" id="h-whales-move-53m-xrp">Whales Move 53M XRP</h2> 
<p>According to on-chain data tracking platform Whale Alert, a recent whale transaction involving the transfer of 30.53 million XRP (worth approximately $15.92 million) from r4wf…5Xgw to Bitstamp has stirred speculation within the cryptocurrency community.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 30,530,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (15,920,021 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw">#Bitstamp</a><a href="https://t.co/j9puHo9hRd">https://t.co/j9puHo9hRd</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1784656778896039986?ref_src=twsrc%5Etfw">April 28, 2024</a>
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<p>In a separate transfer, another whale accumulated 23.03 million XRP (worth around $11.55 million) from Binance. This significant accumulation by the whale “rarG6…2bZKk” reflects growing trader confidence in XRP ahead of the anticipated developments in the lawsuit.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 23,037,429 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (11,550,284 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> to unknown wallet<a href="https://t.co/K00G3Ry7ab">https://t.co/K00G3Ry7ab</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1784840147202158956?ref_src=twsrc%5Etfw">April 29, 2024</a>
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<p>Furthermore, the whale identified as “r4wf7….h4Rzn” responsible for the recent transaction has been observed moving a significant amount of XRP to centralized exchanges (CEX) in recent days, adding fuel to the fire.</p> 
<h3 class="wp-block-heading" id="h-speculation-among-crypto-community-nbsp">Speculation Among Crypto Community&nbsp;</h3> 
<p>Meanwhile, market participants are divided in their interpretations, with some speculating that these transactions represent strategic selloff moves by whales anticipating legal repercussions.&nbsp;</p> 
<p>Others suggest it might be part of Ripple’s broader liquidity management strategy, <a href="https://coinpedia.org/news/whale-alert-spots-transfer-of-427-million-xrp-tokens-as-price-to-surge-above-0-65/" target="_blank" rel="noreferrer noopener">especially given Ripple’s</a> partnership with Bitstamp in cross-border payments. However, this large movement of XRP coincides with growing uncertainty surrounding the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC).</p> 
<h2 class="wp-block-heading" id="h-29-april-deadline-for-the-sec">29 April Deadline for the SEC</h2> 
<p>Meanwhile, Magistrate Judge Sarah Netburn has set an important deadline for the SEC to respond to the ongoing dispute with Ripple Labs, with the <a href="https://www.sec.gov/Archives/edgar/data/1174610/000168386321006052/f10028d1.htm" target="_blank" rel="noreferrer noopener">deadline falling on April 29, 2024</a>. This follows Ripple’s motion to dismiss the SEC’s expert submissions.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-xrp-price-performance-nbsp">XRP Price Performance&nbsp;</h2> 
<p>As of now, <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">XRP</a> is trading at $0.5011, reflecting a 2.48% decline over the past 24 hours. Meanwhile, its trading volume has surged by 33.42% to reach $795.94 million. The recent losses have led to a nearly 7% decline in XRP’s price over the last seven days. Additionally, on a monthly basis, XRP has plunged by about 20%.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-update-heres-what-to-expect-next-week/" target="_blank" rel="noreferrer noopener">Ripple Vs SEC Lawsuit Update: Here’s What To Expect Next Week</a></p>

Why This Whale Moved 53M XRP Just Before SEC Deadline Of 29th April

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