- The recent activities of XRP whales have led to significant market chatter amid speculation of a Ripple Vs. SEC lawsuit settlement.
- In addition to substantial buying, a notable whale has also sold a large amount of XRP.
- These whale transactions coincide with rising XRP prices and heightened market interest.
Explore the latest developments in the XRP market as whales accumulate millions of coins amid settlement rumors in the Ripple Vs. SEC lawsuit.
XRP Whales Accumulate Over 100 Million Coins
Recent on-chain data reveals that XRP whales have acquired approximately 110 million coins in the latest transactions. According to Whale Alert, the transactions involved large purchases from unknown wallet addresses, with nearly 39 million coins worth $20.44 million being bought by the address “rhWj…LQkK”. This indicates a strong surge in market interest towards XRP.
Significant Whale Sell-Off Amid Accumulation
While there has been a noticeable wave of accumulation, a whale recently sold around 28 million XRP to Bitstamp. The sell-off, reported by Whale Alert, is interpreted by many investors as a profit-booking maneuver, a common occurrence in cryptocurrency trading. This activity has stirred some concern among market participants.
Market Reactions to Ripple Vs. SEC Settlement Rumors
Speculation over a potential settlement in the long-standing Ripple Vs. SEC case has amplified market interest. The rumors gained traction following the U.S. SEC’s announcement of a closed-door meeting scheduled for July 18. Many within the XRP community and market analysts believe this meeting could be pivotal in resolving the lawsuit.
Investment and Price Predictions
Amid the swirling speculations, XRP’s price has seen a notable increase, touching the $0.53 mark recently. Crypto analyst Dark Defender has projected further price increments, suggesting that a weekly close above $0.53 could drive XRP towards $0.6044 and subsequently to $0.6649, reflecting the market’s bullish sentiment.
Conclusion
The recent whale activities, coupled with rumors of a Ripple Vs. SEC settlement, highlight the dynamic nature of the cryptocurrency market. Investors are closely watching for further developments which could significantly impact XRP’s future. As the situation unfolds, market participants are advised to stay informed and exercise caution in their trading decisions.
