Anonymous Ripple whale buys 425 million XRP

For an equivalent of US$220 million, unknown Ripple investor refreshes its own XRP holdings. A sign of better times ahead?

After Ripple's XRP token won over SEC in court in July, it has since given away all its gains again. Recently, the price stagnated again around $0.50 USD and looked rather weak along with the rest of the crypto market.

But for an anonymous Ripple investor, this fact was the reason for a huge purchase, which is now causing a stir in the community.

According to data from Whale-Alert the mysterious whale acquired 425 million XRP tokens worth a whopping $220 million dollars. According to records, the money had flowed from the Dutch exchange Bitvavo to a cold wallet, presumably for long-term storage of the tokens.

The purchase indicates the investor's belief that the XRP price could further stabilize after the recent sell-off and find renewed strength.

Besides the general direction of the broader crypto market, the lawsuit with the SEC in particular will likely determine where XRP goes. The case moves to the next round on April 20, 2024.