Big Whale Transfers XRP – Could Price Surge After FOMC?

Crypto News- XRP, the cryptocurrency that has been closely watched due to the ongoing Ripple vs. SEC lawsuit, has once again grabbed headlines. A substantial blockchain transaction involving 28.6 million XRP recently caught the attention of the crypto community, as reported by Whale Alert.

Big Whale Transfers XRP – Could Price Surge After FOMC?

Noteworthy XRP Whale Transaction:

According to a recent report, on September 19, a significant amount of 28,600,000 XRP, valued at $14.64 million, was moved from an undisclosed or anonymous wallet to the Bitstamp exchange. This transfer followed another noteworthy event where an anonymous entity sent 100,000,000 XRP to Ripple Labs over the weekend.

Subsequently, it was revealed that the sender of the 100 million XRP was associated with the Canadian cryptocurrency exchange SideShift. Ripple Labs then carried out two transfers, sending 75,000,000 XRP to one of its wallets and an additional 46,000,000 XRP to an undisclosed recipient. These transactions hinted at Ripple’s potential involvement in over-the-counter exchanges or asset redistribution.

It’s important to note that on September 19, another transaction was recorded, with the company transferring 30,000,000 XRP from a Ripple wallet to the Bitstamp exchange, as reported by Bithomp.

Potential Impact of FOMC on XRP Price:

Despite these significant transactions, XRP showed gains on September 20, approaching the $0.52 mark. At the time of writing, XRP’s price had increased by 1.99% to reach $0.5189, with a one-day trading volume rising by 0.17% to $1,006,300,171. During this period, XRP reached a 24-hour high of $0.5233 and a low of $0.5043.

Recently, XRP garnered attention when its legal representatives criticized the New York State Department of Financial Services (NYDFS) for delisting XRP from its list of approved cryptocurrencies and stablecoins.

Additionally, John Deaton, the attorney representing XRP holders in the Ripple vs. SEC lawsuit, hinted at an impending major announcement. Although the nature of this announcement remains uncertain, it has fueled speculation within the market.

Currently, investors are eagerly anticipating the outcome of the FOMC meeting scheduled for later today. Experts believe that the Federal Reserve’s decision regarding interest rates could potentially impact the entire cryptocurrency market, including XRP.

While the market generally anticipates the Fed to temporarily pause its rate-hike plans, any unexpected developments during the meeting could significantly sway market sentiment. Notably, traders exhibit 99% confidence in a pause in the Fed’s rate hikes, as indicated by the CME FedWatch Tool’s assessment of FOMC meetings.