XRP whale moves 29 million tokens to Bitstamp amid price slide

As XRP struggles to maintain upward momentum following Judge Torres’ summary judgment in the US SEC v. Ripple Labs case that XRP $0.51 isn’t a security, investors appear to be selling off their holdings. Adding to this, a significant whale has moved 29 million XRP, valued at over $15 million, to a crypto exchange amid a price decline approaching the support level.

Whale Alert posted on Aug. 24, that a large holder transferred 29,300,000 XRP worth $15.13 million to Bitstamp exchange. Additional information suggests the possibility that this whale might be selling its XRP assets, as it had previously moved 14 million XRP to Bitso just a few hours earlier.

The decision by Judge Torres to permit the U.S. Securities and Exchange Commission (SEC) to submit an interlocutory appeal regarding XRP token sales had a significant impact, triggering a notable market downturn. This led to a sharp decline in the XRP price, breaching crucial support levels of $0.6 and $0.5.

🚨 29,300,000 #XRP (15,130,884 USD) transferred from unknown wallet to #Bitstamphttps://t.co/DhcHkKNdzc

— Whale Alert (@whale_alert) August 24, 2023