Whales have shown significant interest in XRP since December 2022 as Ripple's lawsuit with the SEC draws closer to a verdict. The Rich List is buying XRP tokens and transferring them to different wallets in hopes of ruling in Ripple’s favor.
A mysterious whale transferred 254.59 million XRP worth $107.78 million to a private wallet address. The transfer was initiated in a single transaction this week, and Bithomp's data shows the whale's funds were intact.
Additionally, another whale with deep pockets transferred 35 million XRP worth nearly $15 million to Bitstamp, a leading European cryptocurrency exchange. On Wednesday, another whale transferred 30.2 million XRP tokens, worth nearly $13 million, to an unknown private wallet address. This week alone, whales moved 320 million XRP tokens worth $135 million.
This development shows that high-net-worth investors remain bullish on the token as its price breaks above the $0.40 mark. The token briefly touched $0.43 before falling back in price on Thursday. Bulls are aiming to push it above the $1 mark, but unsustainable market momentum is dragging its price down.
The token attracted bullish sentiment in January, surging nearly 20 percent since the start of the year. Interest among whales has grown after Ripple CEO Brad Garlinghouse told, he believes the ruling will be in their favor.
