$105M XRP Transfered by Alien Wallets, Here’s Who’s Behind the Transfer

• A Chunk of ripple (XRP)worth over $51.4 million was transferred, both the sender and receiver are to be demystified.
• Over the past 24 hours, Ripple has shown a moderate price increase of $0.4994 going up by nearly 3%.

A large transfer of XRP was detected by Whale Alert, a blockchain tracker that monitors large cryptocurrency transactions. The transfer involved 105 million XRP, worth approximately $51 million.

The transaction took place on October 17, 2023, and the funds were transferred from a Binance address to an account on the Bittrex exchange. The identity of the sender and recipient is unknown.

The transfer comes at a time when XRP is enjoying positive developments in its lawsuit with the US Securities and Exchange Commission (SEC). The SEC sued Ripple in December 2020, alleging that the company had illegally sold XRP as an unregistered security.

Ripple has denied the allegations and is fighting the case in court. In recent weeks, Ripple has scored several victories in the case, including the SEC’s decision to turn over documents related to the case.

The price of XRP has been volatile in recent months, but it has been on an upward trend in the past few days. The current price of XRP is $0.4994, up nearly 3% in the past 24 hours.

The large transfer of XRP could be a sign that whales are accumulating the cryptocurrency. Whales are large investors who typically hold large amounts of cryptocurrency. Their activity can have a significant impact on the price of a cryptocurrency.

The transfer could also be a sign that the market is becoming more bullish on XRP. The positive developments in the SEC case could be encouraging investors to buy XRP.

It is important to note that the cryptocurrency market is volatile and prices can fluctuate rapidly. Investors should always do their own research before investing in any cryptocurrency.