Whales Add More XRP Amid Lawsuit Ending Rumors

XRP News: As the XRP vs US SEC lawsuit is moving toward the Summary Judgement phase more and more speculations are hitting the market. However, crypto whales seem to be unaffected by the hearsay in the market and are still accumulating the XRP token.

Whales adding XRP amid price dip?

According to the data given out by the WhaleAlert, crypto whales bought more than 138 million XRP tokens (worth approx $52.1 million) in the last 24 hours. More than $33.2 million worth of XRP tokens were bought from the Binance crypto exchange.

However, the largest accumulation transaction recorded took place on Binance. It worthed around $18.84 million as almost 50 million XRP tokens was added by a whale.

This whale accumulation comes amid the recent downtrend in the crypto market. XRP price have dipped by 5% in the last 7 days. XRP is trading at an average price of $0.375, at the press time. However, its 24 hour trading volume has surged by a whopping 162% to stand at $780.2 million. Meanwhile, its market cap has dropped under the $19 billion mark.

As per the data, a whale also moved 32 million XRP tokens (worth approx $12.4 million) from its wallet to the Bitstamp crypto exchange. It is expected the whale is looking for sell opportunities here.

Earlier, Coingape reported that over $55 million XRP tokens were moved by the whales on Saturday. While suspiciously 4 billion XRP were moved in several transactions from the Bittrex crypto exchange.

Is the Ripple case ending on December 15?

XRP lawsuit settlement rumors hit the crypto market when Cardano founder Charles Hoskinson gave out a speculative comment in AMA on December 10, 2022. He mentioned that the XRP lawsuit settlement would happen by December 15, 2022.

However, Eleanor Terrett, FoxBusiness Journalist rejected Hoskinson’s speculation. She stated that her sources close to the XRP lawsuit confirm that there is no truth in December 15 settlement rumor. Earlier, they also ruled out the November 15, 2022 rumor.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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