Ripple Moved Over 4 Billion XRP Awaiting Summary Judgment

Data shows that over $1.5 billion worth of XRP was transferred 

from the Bittrex cryptocurrency exchange to an unidentified wallet.

As the global cryptocurrency market continues to drop, XRP, the native cryptocurrency of Ripple, is trading with heightened selling pressure. In the meantime, the Ripple lawsuit's statements and decisions have had a long-term effect on the price of XRP. Ripple and the SEC are requesting a summary judgement in their favour, nevertheless.

Do whales transfer XRP?

According to data from WhaleStats, more than 4 billion XRP tokens have been transferred in various transactions. According to data, XRP worth almost $1.5 billion was transferred from the Bittrex cryptocurrency exchange to an unidentified wallet. This action is anticipated to be connected to the encouraging XRP news.

The tracker's largest transaction was the removal of 500 million (roughly worth $189.3 million) from the exchange.

Whales, on the other hand, have been buying a lot of XRP tokens. In spite of the price drop, Whales traded more than 143 million XRP tokens, according to CoinGabbar.

On the market side, the price of XRP has decreased over the previous 30 days by 20%. At the time of publication, the price of XRP is averaging $0.378. Its daily trade volume is approximately $900 million. The US SEC is suing XRP, but the cryptocurrency still has a market cap of almost $19 billion.

Who will prevail in the XRP lawsuit?

Briefs in the pivotal litigation between Ripple and the SEC have been submitted to the US district judge, pleading for them to grant Summary Judgment in their favour. Judge Analisa Torres was urged not to send the case to trial in filings.

The SEC case, according to Ripple's General Counsel Stuart Alderoty, is only the beginning of the end.