By Scott Galbraith
XRP whales reportedly moved around 240 million XRP which is approximately $81.08 million in the past day alone. This was just before news broke out that the Securities exchange commission (SEC) had finally given up the Hinman emails.
XRP Whales Accumulates Coin Heavily
On Thursday, Crypto tracker, Whale Alert reported that XRP whales were moving huge sums of XRP. This however seems to be spurred by a possible positive outcome of the ongoing legal battle with the SEC. The news of the Hinman emails was yet to break out when the whales’ started moving the coins.
In a series of transactions reported by Whale Alert, the whales seem to be accumulating the coins. The first transaction recorded was a sum of 140 million XRP worth approximately $63 million transferred from an unknown wallet to another unknown wallet.
The next recorded transaction showed a sum of 34 million XRP moved from crypto exchange Bitstamp to another unknown wallet. In the same hour, XRP worth over $50 million was moved between a Bitstamp address and another unidentified wallet.
These all happened just before news broke out that the SEC had finally given up the famed Hinman emails which some members of the crypto community feel is the key to unraveling the case. The SEC refused to hand over the emails for a long period and was ordered to by the court not long ago.
New Milestone For Ripple In SEC Lawsuit
The Ripple vs SEC Lawsuit has just hit a new headway. Ripple’s general counsel Stuart Alderoty, announced earlier today on Twitter that they’ve finally gotten hold of the Hinman documents— emails and drafts of former SEC director. In it is said to be written evidence where he mentioned in 2018 that Bitcoin and Ethereum are not securities.
Alderoty noted that the documents will remain confidential for now at the commission’s insistence. He continued by saying that the 18 months fight was worth it and expressed disappointment about the SEC’s tactics.