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.
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- EU Passes A Bill to Trace the Flow of Bitcoin & Crypto Assets In Regulatory Tightening Measures
- North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt
- Grayscale Initiates A Lawsuit Against the U.S. SEC Over Spot Bitcoin ETF Issues
- Pentagon Raises Damning Concerns Over Bitcoin, Ethereum Security
- Bitcoin Cash Sinks 7% As Its Biggest Advocate Is Accused Of Default
- Here’s Why Ethereum (ETH) Price Can Plunge More Ahead
- This Crypto Winter Suite Could Help Investors In Bear Market
- Terra USTC Price Skyrockets By 75%; Will It Recover More?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
- Stacks Price Analysis: Reversal Within Wedge Pattern Eyes $0.3 Support
- 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?
