Whale Alert, a popular blockchain analytics platform, has reported four significant XRP transactions within the past 24 hours. These transactions involved a total of 197.8 million XRP, which is equivalent to $114.1 million in fiat currency. The largest of these transactions, valued at $61.4 million, occurred between anonymous wallets. Additionally, two transfers of medium size were made from anonymous wallets to the Binance exchange, amounting to 31.7 million and 36.5 million XRP respectively. The smallest transaction involved the withdrawal of 23.3 million XRP from Binance to an anonymous blockchain address.
The heightened activity of XRP whales — individuals or entities holding large amounts of XRP — can be attributed to Ripple’s recent legal victory against the Securities and Exchange Commission (SEC). A federal judge ruled that the SEC’s demand of $2 billion in fines and penalties from Ripple should be reduced to $125 million. Although this figure is significantly higher than Ripple’s initial suggestion of $10 million, it represents a striking 94% reduction from the SEC’s original demand. This legal win has caused the price of XRP to surge by 25%, propelling it from the seventh to the sixth position on the CoinMarketCap rankings.