XRP News: Whales Adding More XRP in the Face of Ripple Settlement Rumors
XRP News: As XRP vs US SEC litigation moves toward the Summary Judgement phase, more speculations are flooding the market. Crypto whales, however, seem unaffected by market hearsay and continue to accumulate the XRP token.
Whales add XRP to price dip
WhaleAlert data shows that crypto whales purchased more than 138,000,000 XRP tokens (worth approximately $52.1 million) within the last 24 hours. Binance was the place where XRP tokens worth more than $33.2 million were purchased.
Binance however, was the site that recorded the largest accumulation transaction. It was worth approximately $18.84million, and almost 50 million XRP tokens were added by a whale.
This whale accumulation is occurring amid a recent downtrend in crypto market. In the last 7 days, XRP prices have dropped by 5%. At press time, XRP trades at $0.375 an average. However, the 24 hour trading volume of XRP has risen by 162% to $780.2 million. Its market cap has fallen below $19 billion.
According to data, a whale moved 32 million XRP tokens (worth approximately $12.4 million) from its bitcoin wallet to the Bitstamp cryptocurrency exchange. It is possible that the whale is looking here for selling opportunities.
Coingape reported earlier that the whales moved more than $55 million worth of XRP tokens on Saturday. Several transactions were made from Bittrex’s crypto exchange, and it is believed that 4 billion XRP was moved.
Is the Ripple case set to end on December 15th?
XRP lawsuit settlement rumors hit crypto market when Cardano founder Charles Hoskinson made a speculative comment on AMA on December 10, 2022. He stated that the XRP lawsuit settlement would take place by December 15, 2022.
Hoskinson’s speculation was rejected by Eleanor Terrett of FoxBusiness Journalist. According to her, sources close to the XRP lawsuit have confirmed that the December 15 settlement rumor is false. They also rejected the November 15, 2022 rumor.
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