Watching major crypto movements, Whale Alert spotted blockchain giant Ripple that transferred a huge amount of XRP (40 million tokens).
In the transaction spotted by Whale Alert, Ripple transferred 40 million XRP with a total value of just over $ 10 million.
The transaction was made between Ripple’s two wallets. The recipient address was named RL18-VN. This wallet is believed to be one of the extra escrow wallets Ripple uses to cash out XRP for the company’s needs such as operational expenses.
In the comments below the tweet, some users assumed that the amount traded could be part of a payment to 21 lawyers who would represent Ripple, CEO Brad Garlinghouse and founder Chris Larsen in court against the SEC. As it is known, the company and its high profile executives are accused of selling “unregistered securities” (XRP) in the lawsuit announced on December 21, 2020.
In addition, ACI Worldwide, a member of RippleNet, was selected by the FED for the pilot program called FedNow Service. This payment solution aims to enable thousands of banks as well as other financial institutions and retail users to make seamless cash transfers across the US. ACI will help build and test the service before launch. As we reported yesterday, the LuLu Exchange announced a partnership between Ripple and the Federal Bank of India to offer real-time payments from the UAE to India.
The Ripple-friendly ACI selected by the Fed for the pilot program, Ripple’s entry into the UAE-India corridor with the LuLu Exchange were remarkable developments. All these developments are seen as an indication that there is still hope for the XRP and Ripple ecosystem in the middle of the SEC case.