As a seasoned crypto investor with a deep interest in XRP and a keen eye for market trends, I’ve witnessed my fair share of volatility and uncertainty in this space. The recent surge in major XRP transactions among whales has piqued my curiosity and raised some optimistic sentiments within me.
In the previous day, approximately 74 million XRP tokens were bought up by significant XRP holders, signifying notable activity within the cryptocurrency community. This purchase took place on July 23, 2023, and is particularly interesting as the highly anticipated ruling in the Ripple versus SEC case approaches.
XRP Whale Transactions
Based on Whale Alert’s report, a significant transaction occurred where someone purchased 26.42 million XRP, worth around $16.02 million, from Binance and transferred it to an unidentified wallet. Additionally, another XRP whale amassed 23.65 million XRP, equivalent to roughly $14.07 million, from the Binance exchange.
An additional whale bought 23.95 million XRP, equating to $14.72 million, from Binance. Furthermore, within the past week, large investors have acquired over 140 million XRP, worth around $84 million. This significant purchase activity underscores growing enthusiasm for XRP as the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) nears a pivotal point.
The accumulation of whales implies they are preparing to profit from the potential rise in XRP‘s value if Ripple wins the legal battle against the SEC. This optimistic outlook on XRP might have contributed to its price surge beyond $0.60 today. However, an unusual transfer by a large whale went against this trend.
A mysterious whale transaction occurred, transferring approximately 23.1 million XRP, equivalent to around $14.33 million, from an undisclosed wallet to Bitstamp. However, there has been relatively little selling pressure on XRP recently due to substantial purchases observed in the past week.
A Look At Ripple Vs SEC Case
The community surrounding XRP, frequently labeled as the “XRP Army,” is in a state of heightened readiness as the legal case approaches its final decision phase. This heightened sense of anticipation stems from the upcoming ruling by Judge Analisa Torres regarding remedies. Lately, rumors of a possible settlement have resurfaced due to several influential factors.
Ripple has announced that its CEO, Brad Garlinghouse, moved 150 million XRP, along with his comments about potential settlements. However, Marc Fagel, a former securities lawyer at the SEC, has disputed these rumors. He emphasized the lack of concrete evidence indicating a pending settlement between Ripple and the Securities and Exchange Commission.
Furthermore, Fagel noted that if a deal had been struck for a settlement, the regulatory body would have notified the court to postpone the remedies decision until SEC’s approval was obtained. However, these actions haven’t transpired. Consequently, it seems unlikely that a settlement will materialize at this point in the XRP legal dispute.
Additionally, according to Fagel’s prediction, a definitive decision in the Ripple vs SEC case’s remedies stage is anticipated within the next week. He assumes that Judge Torres will hand down a significant ruling on the remedies, while Judge Sarah Netburn handles any remaining motions.
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2024-07-23 15:16