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Ripple Whale Alert! What was $ 470 million in XRP transferred for? From Investing.com






Investing.com – Something seems to be in the bush. A few days ago, there were unusually high XRP transactions, Whale Alert found. XRP were worth $ 470 million postponed.

So 218,682,488 XRP were returned to Ripple from a wallet.

This wallet is probably in the hands of Ripple itself. That would coincide with one of the statements in the SEC vs. Ripple court case that Ripple Labs is selling its XRP predominantly outside of the United States.

Ripple Labs’ attorneys use this line of argument. If the court should decide that the SEC is right in its assessment that the XRP is a security, then the US regulatory authority would not have jurisdiction. You can find some background information on this in the article

It wasn’t the only big deal, however. Based on an authorized Ripple wallet, a total of 65 million XRP were sent to three unknown wallets. At the same time, there was a movement of 70 million XRP between two other wallets, while 20 million XRP were sent from a Bittrex wallet to an unknown address.

All of this happened within just 12 hours and it is unlikely that it was a random product. Are these transactions related to new partnerships? Who knows.

SBI cryptocurrency fund buys Ripple (XRP)

What is certain is that Bloomberg reported just a day earlier that SBI Holdings Inc. will launch the first Japanese cryptocurrency fund at the end of November.

While regulation is high in Japan, interest in digital assets is widespread. This may also have something to do with the fact that the Japanese also have a penchant for gambling.




In any case, SBI Holdings has been a fixture among the Ripple Labs partnerships for several years. The original plan to sell cryptocurrencies through mutual funds was thwarted by the Japanese regulator. But now a solution for this problem seems to have been found and to have reached the goal.

Tomoya Asakura is Head of Asset Management at SBI Holdings. He sees the fund, which will buy,, XRP, and as a good addition to traditional portfolios. If his fund is successful, others will soon follow, he said.

“I think people will hold the fund along with other assets and see how useful it can be for diversifying portfolios. If our first fund is doing well, we will quickly launch a second one. “

From Marco Oehrl

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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