XRP whales seem unbothered by the latest market dip which was triggered by the recent SEC attack on Kraken, one of the largest United States–based cryptocurrency exchanges.
On February 9, the United States Securities and Exchange Commission charged two Kraken entities — Payward Ventures, Inc. and Payward Trading Ltd. — for not registering the offer and sale of its crypto asset Staking-as–a–Service (SaaS) program, compelling the centralized crypto exchange to pay a sum of $30 million to settle the charges.
This latest crypto crackdown by the Gary Gensler-led SEC resulted in an overall market dip, which saw the top–ranked crypto by market cap — bitcoin, recording its lowest price in the last two weeks yesterday.
Notably, bitcoin has been on an uptrend since January, surpassing $24,000 in early February. But on Thursday, shortly after the SEC brought forward the unregistered securities case against Kraken, BTC price reacted negatively, plummeting to the $21,745 level.
Accordingly, XRP dipped to $0.37 as it could not consolidate above $0.4. However, BTC and XRP are trading for $21,908 and $0.386 respectively at the time of writing.
Read Also: Ripple-SEC Settlement Rumor Spreads as FOX Business Reporter Drops Update: Details
XRP Whales Taking the Stage
Amid the latest SEC–inspired crypto market dip, XRP whales shuffled millions of the XRP Ledger digital token in the last few hours. Notably, a total of 101.8 million XRP was moved by unknown whales, involving Bitso and Bitstamp exchanges.
Crypto tracking platform, Whale Alert reported the first hefty XRP movement in this series on Thursday at 22:24 UTC, where 35 million XRP was shifted to the Bitstamp trading platform by an unknown whale. At the time of execution, the transaction was worth about $13.5 million.
🚨 35,000,000 #XRP (13,500,235 USD) transferred from unknown wallet to #Bitstamphttps://t.co/OvcayhyeGd
— Whale Alert (@whale_alert) February 9, 2023
In close succession, 27 million XRP flowed into Bitso exchange from an unidentified whale wallet. This transaction was worth approximately $10.4 at the time of execution.
🚨 27,000,000 #XRP (10,414,467 USD) transferred from unknown wallet to #Bitsohttps://t.co/CWsYaQLDEw
— Whale Alert (@whale_alert) February 9, 2023
A few minutes later, Whale Alert confirmed that 39.8 million XRP, valued at $15.3 million was transferred from Bitso to an unknown wallet.
🚨 39,800,000 #XRP (15,345,179 USD) transferred from #Bitso to unknown wallethttps://t.co/YHFMa4j9g0
— Whale Alert (@whale_alert) February 9, 2023
Read Also: Cory Johnson’s Interview after Hinman’s Speech: “This Can Only Mean XRP is Not a Security Either”
Notably, there has been an increased movement of XRP ever since Ripple CEO Brad Garlinghouse, assured the XRP community that the SEC would lose in the ongoing XRP lawsuit, expected to be rounded off this year.
More so, John Deaton disclosed that the SEC commissioner Hester Peirce admitted that her colleagues performed a ‘shorthand’ analysis on XRP. Hence, her earlier opinion that Ripple would win the longstanding XRP lawsuit.
Therefore, XRP whales and the wider crypto community anticipate a massive rally for the sixth-largest crypto asset by market cap. As earlier reported, a certain permabull recently shared his bullish outlook on XRP, expecting the token to hit $23.8 by June.
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