On Friday, XRP whales moved 139 million coins worth $219 million to unknown wallets.
Friday was the day that XRP whales took action to shuffle over 100 million coins, which sparked waves of speculation among traders and investors all across the world.
In light of the fact that the litigation between Ripple Labs and the United States Securities and Exchange Commission is getting closer to a possible conclusion, these transactions have generated a significant amount of curiosity over the future movements of the company’s native asset.
XRP Whales Move Over 100M Coins, Ripple Case End Looms?
Concurrently, the price of XRP continues to surge, and the asset has even surpassed BNB in terms of market capitalization at this time. On November 29, Whale Alert provided information indicating that two XRP whales had moved significant quantities of the cryptocurrency.
The data indicates that rBJ transferred 104.39 million coins, valued at $167 million, to an unknown wallet, rhD. Another whale account, rBE, followed suit, sending 35 million coins valued at $52.28 million to another address, rsX.
When taken as a whole, these transactions sparked a flurry of speculation, and the company’s lawsuit against the United States Securities and Exchange Commission (SEC) saw waves turning in favor of the American blockchain payments manufacturer.
The litigation that the American blockchain payments company filed against the SEC has taken new turns, particularly in favor of tokens. In light of Donald Trump’s reelection, former Chairman of the Commodity Futures Trading Commission Chris Giancarlo expressed optimism to FOX Business by stating that the “new SEC will drop the appeal.”
Moreover, proponents of XRP, such as Bill Morgan, Fred Rispoli, and Jeremy Hogan, have expressed confidence in the rejection or withdrawal of the appeals. The XRP whale transactions that have taken place in the midst of these legal procedures have, in general, generated a tremendous amount of traction among industry participants all around the world.
On the other hand, the most recent filing from the California district court in the Ripple Labs Inc. dispute indicates that the court has approved an application to amend the judgment and stay in the XRP complaint.
Both parties in the action jointly agreed that there was no particular cause to delay the lawsuit’s decision, given that they had addressed the class claims. Meanwhile, the plaintiff has submitted a request to the court, seeking an “express finding in an amended judgment.”
The primary reason for this request is to prevent any further delay in the final verdict. At the time of this article, the price of XRP had grown by 13% over the course of the previous day, reaching $1.65. From the start of the day to its conclusion, the price of XRP fluctuated between $1.43 and $1.68.
In a noteworthy development, the value of the token’s 24-hour trading volume increased by fifty percent, reaching $9.88 billion. The growing movement has sparked enormous interest among traders and investors all over the world, as the lawsuit against the SEC is getting closer and closer to the possibility of its conclusion.
In addition, it is important to mention that the coin has surpassed BNB in terms of market capitalization, having a valuation of $94.39 billion. Because of this bullish tendency, there is a growing belief that the coin will reach a goal price of $10 in the near future. Market observers continue to monitor the token, anticipating further advancements in the near future.