XRP Price Outlook: Ripple Whales Shed 48 Million Tokens Amid SEC Appeal Confirmation

XRP prices face more uncertainty as Ripple Whales dumps 48 million tokens.

Lately, Ripple whales have been making moves that have contributed to the uncertainty around the XRP price. In a recent transaction, it was observed that over 48 million XRP tokens were dumped by Ripple whales. XRP whales seem to be in a selling frenzy today, leading to a nearly 2% drop in XRP’s price. This activity coincides with the US SEC’s last-minute appeal in the ongoing Ripple SEC case, prolonging the already lengthy legal dispute.

XRP Price Plunges Into More Uncertainty As Ripple Whales Offload 48 Million Tokens

According to on-chain analytics firm, Whale Alert data, a Ripple whale, identified by the address “rDgP1….1pCvK” has sent 20 million XRP, worth $10.98 million, to Kraken. This dump has sparked speculations, as the token’s price was also noting a decline today.

Simultaneously, another whale, identified by the wallet “r4wf7…h4Rzn” has dumped 28.3 million tokens, valued at $15.39 million, to Bitso exchange. Notably, these massive dumps by the investors to these top crypto exchanges have fueled discussions if further selloff is incoming.

Ripple whales have been disappointed due to the legal case with the SEC which has drastically affected the XRP price. However, with more Ripple whales selling off their holdings, the road to a resurgence for the XRP price might take a longer while.

While more uncertainty brews around XRP price, its current weekly range sits between $0.5226 to $0.5543, according to CoinGecko. However, should more Ripple whales sell off their holdings, XRP price may drop further amid waning investor confidence in the token.

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For several months, ETFSwap (ETFS) has shown impressive performance recently, prompting growing interest in its potential to continue rising in value.

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ETFSwap’s platform is also getting more attention for its tightly secure ecosystem. Its platform has been audited to rid it of all smart contract compromises. This was done by CyberScope— a leading blockchain audit firm. In an extra effort to secure a transparent and trusted trading environment, ETFSwap (ETFS) has also completed a KYC verification with SolidProof.

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Conclusion

With the price of ETFSwap’s presale token jumping by 350% from its first presale, it is evident that the new altcoin has sustained significant interest so far. ETFSwap (ETFS) is even set for more gains as its beta platform lurks. As a result, investors are urged to invest in its ETFS token, which is priced at $0.0384, before further price takeoffs.

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This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.