Whale Alert Sparks Speculation as XRP Transfers Rise

The move sparked speculation about its potential impact on the price of XRP.

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A recent large buy in Ripple's XRP token (XRP) has been detected by crypto tracking platform Whale Alert.

Whale Alert reported a transfer of 66,666,659 XRP, worth approximately $33,065,809, from Binance to an undisclosed wallet. The move sparked speculation about its potential impact on prices.

In the XRP ecosystem, Ripple recently transferred significant amounts of XRP to secure escrow accounts. Notably, 300,000,000 XRP, worth approximately $146,927,854, and an additional 500,000,000 XRP, worth approximately $244,748,526, were placed in escrow.

66,666,659 #XRP (33,065,809 USD) transferred from #Binance to unknown wallethttps://t.co/OwwbvEdBNs

— Whale Alert (@whale_alert) September 2, 2023

These decisions come amid the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Ripple's legal representatives recently issued a response to the SEC regarding its appeal of Judge Analisa Torres' July ruling that XRP is not a security when sold to the general public.

Ripple is legal...