XRP Whale's Significant Withdrawal Sparks Sell-off Talks

A recent legal ruling in the US declared that Ripple XRP should not be categorized as a security, effectively resolving the legal dispute with the SEC. Following this announcement, the price of XRP saw a significant boost, rising by 30% immediately. The positive news also led to a notable surge in trading activity, with XRP trading volume increasing by over 800% after the announcement.

As of the latest data, XRP is currently trading at $0.8113, showing a 1.6% surge in the past 24 hours. The cryptocurrency previously reached a peak of $0.8875 before stabilizing at its current price.

Also read: Dogecoin (DOGE) Surges 4% Following Elon Musk’s Tweet

Now, according to the latest data from Lookonchain, a whale has withdrawn 563,571 Ripple from Binance yesterday. The value of the withdrawn XRP was worth around $455k at press time.

The XRP whale has withdrawn over 2 million XRP from Binance

Data from Lookonchain reveals that the whale has withdrawn over 2 million Ripple worth $1.66 million from Binance. The whale’s current unrealized profit stands at around $640k, as reported by Lookonchain.

Also read: Polygon Considers Governance Restructure in Upcoming Polygon 2.0 Roadmap

However, despite the movement of the XRP whales, the price seems unaffected. The positive outcome of the lawsuit has sent the token up by over 70.9% in the last seven days.

  • Ripple
  • xrp

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