XRP deposits and withdrawals would be put on hold by Singapore-based crypto exchange Bitrue on 9th Feb. at 06:00 [UTC] due to routine maintenance on the token’s wallet.
“Bitrue will be performing some maintenance which will take about 1 hour,” the official blog post added.
During the wallet maintenance, the trading of XRP pairs will not be affected and will reopen deposits and withdrawals once the maintenance is complete without further notice.
At the time of writing, the 6th ranked token fell by 1.8% to $0.39 over the daily index.
On the other hand, the asset was shuffled by large-scale investors, as revealed by the on-chain whale transaction analytics platform Whale Alerts.
In a span of just 24 hours, three major movements of the token were recorded, with the first being 35,000,000 units of the digital asset sent from an unknown wallet to Bitstamp exchange.
Additionally, 248 million XRP worth roughly $99 million in total was transferred from one wallet to an unknown wallet. Another transfer out of the Bitso exchange involved 32.2 million XRP units with a specified value of over $13.13 million.
As the ruling in the Ripple v. SEC case, is heading towards its final leg, the movement of the asset on and off exchanges is nothing out of the ordinary.
XRP/Ripple Fight Against The SEC Got More Intense
Given the fierce defense put up by the blockchain company, Ripple is expected to see a renewed listing, which will spark further aggressive buy-ups as many are anticipating its victory over the SEC.
In the latest turn of events, XRP representative and attorney John E Deaton filed an amicus brief to support Blockchain firm Ripple in a different lawsuit, TronWeekly reported.
John Deaton’s entry in Ripple’s California case is slated to keep the limelight on the blockchain firm even more.
For context, a section of XRP investors filed a class action suit against Ripple and its CEO, Brad Garlinghouse. in 2018 who demanded compensation for the losses they sustained. They are also asking the court to declare the token as a security.
According to Filan, Deaton filed on behalf of all 75,890 XRP holders will argue that the majority of investors believe that the token should be regulated rather than classified as a security, contrary to the move of the small number of XRP holders.
