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29 million XRP moved by whale, price surge expected post-FOMC.

Despite a 29 million XRP transfer to Bitstamp, the price of XRP remained stable on Wednesday.

by V. Sinclair
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The XRP cryptocurrency has garnered attention due to the ongoing Ripple vs SEC lawsuit. In a notable blockchain transaction, 28.6 million XRP was transferred from an unknown wallet to a crypto exchange, following a previous transfer of 75 million XRP. Speculation has arisen among market participants regarding these moves.

Regarding the recent transaction, 28,600,000 XRP worth $14.64 million was transferred from an anonymous source to the Bitstamp exchange on September 19. Another transaction involved Ripple transferring 30,000,000 XRP from a Ripple wallet to Bitstamp on the same day.

Despite these significant transactions, XRP experienced gains on September 20, reaching around $0.52. The XRP price was up 1.99% to $0.5189, with a one-day volume increase of 0.17% to $1,006,300,171. The XRP’s high and low in the past 24 hours were $0.5233 and $0.5043, respectively.

The XRP cryptocurrency has recently faced scrutiny after XRP legal representatives criticized the delisting of XRP by the New York State Department of Financial Services (NYDFS). Additionally, an attorney representing XRP holders in the Ripple vs SEC lawsuit has hinted at a major announcement, sparking speculation in the market.

Investors are now awaiting the FOMC meeting scheduled for later today, as the rate-hike decision is expected to potentially impact the overall crypto market, including the XRP price. While the market anticipates a pause in the rate-hike plan, any unexpected movement can significantly affect market sentiment.

The CME FedWatch Tool’s assessment of FOMC meetings indicates that traders express 99% confidence in a Fed rate hike pause.

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