Crypto Whales Move Over 350 Million XRP Tokens, XRP Reaches $0.40 Mark

• Crypto whales have transferred over 350 million XRP tokens in the past 24 hours.
• XRP is currently trading at $0.39 with a surge of 1.72% in the last 24 hours.
• XRP is now one of the highest-value token locks according to an escrow account.

Cryptocurrency exchange Ripple has been in the news recently due to its ongoing legal battle with the US Securities and Exchange Commission (SEC). Despite this, Ripple’s native currency, XRP, has seen a remarkable performance and is now just a few cents away from reaching the $0.40 mark.

The XRP price has been trading within its symmetrical triangle since June 14th, and at the time of publication, it is selling at $0.39 with a surge of 1.72% in the last 24 hours. This recent price surge could possibly be due to the massive amount of XRP tokens that have been transferred by crypto whales in the last 24 hours.

According to WhaleAlert data, crypto whales have moved beyond 350 million XRP tokens in the last 24 hours. An unknown wallet has received 261 million XRP which is worth nearly $102.4 million in a single transaction, while 65.8 million XRP tokens were purchased from various wallets, totaling to nearly $26 million. One particular transaction saw the purchase of $13.6 million XRP. On the contrary, a few whale addresses have discarded around 62 million XRP from unknown wallets to different crypto exchanges.

Apart from the whale transfers, XRP is also one of the highest-value token locks according to an escrow account. An escrow account is a legal financial agreement where an asset or liability is held by a third party.

With all the positive developments surrounding Ripple and XRP, the crypto community is eagerly awaiting the outcome of the Ripple vs SEC case, which could be the deciding factor in the future of both Ripple and XRP.