Ripple (XRP) rose over 4% on Tuesday as a recent price dip attracted buying by several major whales.
The token has largely tracked its peers through the recent market crash. Investors are also awaiting any further updates in the Securities and Exchange Commission (SEC) case against the blockchain firm.
XRP down by 45% in past 30 days
Crypto whales have bought more than $112.8 million worth of 262 million XRP tokens in the last 24 hours. The XRP token prices are down by around 45% in the last 30 days. Whales’ move suggests that they have sealed the dip opportunity. The token is trading at an average price of $0.43, at the press time.
The biggest accumulation has been reported from the FTX crypto exchange. Over $51.3 million worth of 120 million XRP tokens from the platform. While over $43 million worth of tokens were acquired in two other big transactions from different exchanges. The XRP prices have surged by around 4% in the last 24 hours. The XRP token is still the 6th largest cryptocurrency with a total market valuation of $20.9 Billion. Meanwhile, its 24 hour trading volume has reduced by 10% to stand at $1.5 billion.
Filan makes some big claims against SEC
Meanwhile, James Filan, Ripple’s attorney has dropped an update regarding the lawsuit against SEC. In a Text Only Order, the court has granted the extension over the attorney’s fee connection to the Metz Supplemental Report. The motion is now due by May 27, 2022.
Trending Stories
However, John Deaton, lawyer of XRP holders, has raised some more questions against the SEC. Commissioner Hester Peirce has admitted that conflict screening is important and it should be managed properly, claims Deaton. He claimed that Commission’s officials including Peirce never discussed specific tokens and projects.
He further asserted that SEC officials have neglected to talk over other tokens after Hinman’s infamous Ethereum speech incident. Filan added that the speech promoting ETH as not a security has been the only time when some SEC officials have discussed a token’s nature.
- Are Hedge Funds Planning USDT Dump? Tether CTO Responds To Rumors
- Here’s Why Apecoin (APE) Price Is Skyrocketing Today
- Crypto Prices Falling Despite “Buy The Dip” Sentiment, Data Reveals Why
- Institutional Traders Dumped Bitcoin At A Record Pace Last Week
- Terra USTC Jumps 300%; Lands Back In Top 100 Cryptos
- Ripple’s EX CTO Dumps 40 million XRP tokens In Last 10 Days
- Dogecoin Soars 35%, Here’s Why Breaking This Level Is Crucial
- Crypto Lender Nexo Denies Fraud, Issues Cease And Desist Notice
- Ethereum (ETH) Price Rise and Stability Pulls Broader Crypto Market to $1 Trillion
- Scoop: This Hedge Fund Is Trying To Bailout BlockFi To Counter FTX
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
- SHIB Price Analysis: Overhead Supply Pressure Hints SHIB to Retest $0.00001
- Avalanche Price Analysis: Will The AVAX Breakout Rally Reach $30?
- Sandbox Price Analysis: U-shaped Recovery could Lead SAND above $1.5
- NEAR Price Analysis: Reversal Within Channel could Sink NEAR Below $3
