XRP Whales Move 139M Coins As Ripple Case Near Potential End

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As a seasoned analyst with over two decades of experience in the dynamic world of cryptocurrencies, I must say that the recent XRP whale activities and the potential resolution of Ripple Labs’ legal battle against the U.S. SEC have stirred a storm of anticipation among traders and investors alike.

Large investors holding XRP, often referred to as “whales,” made significant moves on Friday by transferring more than 100 million coins. This action has ignited discussion and curiosity among traders and investors worldwide. As the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) inches closer to a conclusion, these transactions have fueled speculation about the potential future direction of XRP. Meanwhile, as the XRP price continues to rise, it has even outperformed Binance Coin (BNB) in terms of market capitalization.

XRP Whales Move Over 100M Coins, Ripple Case End Looms?

On November 29th, as indicated by Whale Alert’s data, two significant XRP holders transferred substantial amounts of the token. Specifically, the wallet identified as rBJ… shifted 104.39 million coins, equivalent to $167 million, to an unidentified wallet, rhD. In a subsequent move, the address labeled rBE… transferred 35 million coins valued at $52.28 million to another address, rsX. Collectively, these transactions sparked speculation due to the ongoing lawsuit between the company and the U.S. SEC, with the tides appearing to shift in favor of the American blockchain payments firm.

The ongoing lawsuit between an American blockchain payments company and the SEC regarding XRP has taken some unexpected twists, often favoring XRP. Chris Giancarlo, former Chairman of the Commodity Futures Trading Commission, stated to FOX Business that he expects the new SEC, possibly under Donald Trump’s reelection, to abandon the appeal. Similarly, pro-XRP lawyers like Bill Morgan, Fred Rispoli, and Jeremy Hogan have predicted that the appeals might be dropped or withdrawn. This optimism has led to increased attention in XRP transactions among global industry participants, particularly those considered ‘whales.’

In a recent filing related to the Ripple Labs Inc litigation at the California district court, the court has approved the motion to modify the order concerning the judgment and stay in the XRP lawsuit. Both parties in this lawsuit have agreed that the class claims have been resolved, and therefore, there is no need for further delay in rendering a judgment. The plaintiff, however, has asked the court to provide an “explicit finding” in the revised judgment to expedite the final decision and prevent any additional delays.

Ripple’s Coin’s Price Continues To Rally

Currently, XRP’s price is up by 13% over the last 24 hours, reaching $1.65. Its lowest and highest points during the day were $1.43 and $1.68 respectively. Remarkably, the trading volume of this token increased by 50%, amounting to $9.88 billion. The surge in its value, as the court case with the SEC approaches a possible conclusion, has sparked great interest among traders and investors worldwide. Additionally, XRP surpassed BNB in terms of market capitalization, boasting a worth of $94.39 billion.

Currently, an analysis by CoinGape Media shows that XRP has moved beyond a five-year barrier in market dominance, indicating a bullish trend. This positive movement has fueled speculation of a potential target price of $10 for the coin. Investors are keeping a close eye on XRP, anticipating more growth to come.

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2024-11-29 16:29