The Ripple (XRP) has once again garnered attention as significant holders, known as whales, have made moves involving up to 180 million XRP tokens. These transactions have sparked speculation within the cryptocurrency community, especially in light of the ongoing legal battle between Ripple and the SEC. The timing of these whale movements has led to various speculations about their impact on the market.
Notable activity by Ripple whales has caught the attention of the cryptocurrency market, with XRP experiencing a modest recovery in price. However, the focus quickly shifted to the actions of these large holders. According to a report by Whale Alert, one whale transferred a substantial amount of 26.67 million XRP from Binance to an unidentified wallet. Such actions have instilled hope among investors, suggesting a potential increase in XRP prices.
Another significant transfer involved the movement of 100 million XRP between two unknown wallets. Once again, this sparked debates about Ripple’s future actions within the market. Additionally, an untraceable whale deposited a record-breaking 27.43 million XRP to Bitstamp, raising questions about Ripple’s liquidity management and its connection to Bitstamp.
The whale also made another transfer of 29.74 million XRP to the Bitso exchange. These series of transactions have fueled speculation, ranging from strategic selling of XRP to Ripple’s internal processes, further igniting discussions about the dynamics of the cryptocurrency market.
In the midst of these activities, Judge Netburn, who is overseeing the Ripple vs SEC lawsuit, made a ruling granting Ripple’s request to dismiss the SEC’s recent expert submissions. The SEC has until April 29, 2024, to submit their response, after which they will have three business days to reply. Judge Netburn’s continued involvement in the case, despite being nominated as District judge in the Southern District of New York, highlights her impartiality in handling the lawsuit.
Despite the uncertainties and legal challenges surrounding Ripple, XRP has displayed a certain level of strength, with a growth of over 5% in the past week. The progress of the Ripple case and the improved performance of the cryptocurrency market have fueled speculation and interest within the crypto community.
The current whale activity within the XRP platform, coupled with the legal controversies, underscores the uncertainties that surround the cryptocurrency world. As stakeholders navigate through these turbulent times, the ability of XRP to withstand market fluctuations remains a subject of close examination and speculation.
