Amid recent declines, XRP is emerging as the leader of market interest. Of the top 20 crypto assets, it is the coin with the highest increases. This is accompanied by high transfers.
Whale Alert records significant movements in XRP
Watching Whale Alert’s Twitter profile in recent weeks, one could repeatedly see large amounts of XRP moving between portfolios. This phenomenon significantly accelerated on November 14 and 15. Indeed, the total value of transferred coins amounted to 259.4 million. The main players here became two exchanges – Bitstamp and Bitso. It seems that they mainly served as an intermediary tool for the transfer of XRP.
The first two transactions totaling 90,000,000 XRP flowed directly into the account of the Luxembourg-based Bitstamp exchange. In turn, after more than five hours, another one could be seen, also sent to the same address. It had a value of 60,000,000 XRP. Literally a moment later, 63,867,491 coins left the exchange and were transferred to an unknown wallet. Another reshuffle could be seen on the South American Bitso exchange. Here, an inflow of 30,000,000 XRP appeared, only to have 43,200,000 coins transferred out of that exchange, to an unknown wallet, after only a few minutes.
The last recorded transaction, in turn, took place the next day. It involved the Binance exchange, whose XRP holdings shrank by another 32,426,917 coins.
Information supporting accumulation of XRP
The increased movement of XRP-linked addresses took place at a time when rumors of an alleged agreement between the SEC and Ripple surfaced. However, there is little indication that such an agreement will occur. The originally reported date of the agreement was supposed to be as early as November 15. However, with Amicus motions coming before the court at the same time, this would be surprising.
It is worth mentioning, by the way, that Amicus motions can be filed until November 18. Among them are a number of entities that have supported or plan to support Ripple’s side. You can read more about this in the article under the title: “Judge Torres accepts 11 Amicus briefs, 9 of them support Ripple side, 2 more side with SEC.”
XRP leads the rise
After the recent declines that hit the market, amid the news and at the same time numerous whale transfers, XRP is emerging at the front of the peloton. Of the 20 coins with the highest market capitalization, it is the asset behind Ripple that is posting the biggest increases. The total value of the token’s movement, from the bottom to the close of the candle, on November 14 was 17.5%. The next day brings a continuation, and there are many indications that he too will be credited with “green”.