XRP Update: Whale Sells 25 Million XRP And Upcoming Ripple-Related Events

Amidst the recent XRP’s volatility, a massive 25 Million XRP whale transfer to a Luxembourg City-based CEX appears to be capturing significant attention among global crypto traders and investors. 

As of today, Ripple’s XRP has shown an upward momentum despite Bitcoin’s following a recent dip of over 10% because of a widespread selloff in the crypto market. XRP’s surge also aligns with the broader uptrend seen in altcoins across the crypto world. 

According to a report from Whale Alert, a prominent XRP whale transferred a total of 24.85 million XRP equivalent to $15.44 million to Bitstamp yesterday, March 17. Interestingly, despite the massive sell-off by whales, the XRP price went up reaching the $0.62 level earlier today. This price surge has triggered questions about how the massive transaction could impact the XRP price. 

However, XRP’s recent decline from its recent peak of $0.74 has left investors vigilant. It would seem that this trend is connected to Bitcoin’s recent price correction, despite the broader cryptocurrency market showing indications of rolling-out recovery. 

As of this writing, Ripple’s XRP is down by 0.84%, trading at $0.61 with a 24-hour trading volume of $1.6 billion. 

Upcoming Ripple-related Events

• Meanwhile, the U.S. Securities and Exchange Commission’s (SEC) ongoing legal battle with Ripple reaches a crucial milestone on March 22, as the SEC is set to present its remedies-related opening brief. 
• Ripple CEO Brad Garlinghouse and Senior Vice President Markus Infanger will be speaking on Monday at the Digital Asset Summit to be held in London. Ripple’s CEO is expected to discuss why crypto is close to regulatory clarity while the Senior VP will participate in a panel about crypto payments.
• On March 22-24, the XRP Gold Coast conference will be hosted by pro-XRP lawyer John Deaton, pro-crypto lawyer Bill Morgan, and Neil Smith, partner engineer at Ripple. The event will be a key for XRP holders and the Ripple community to share their views and thoughts on XRP’s price.