Are Whales Ready To Rack Up XRP As Ripple Bags Another Win?

XRP News: Ripple’s native crypto, XRP price has been stagnant over the past several years due to regulatory clarity over its nature. As the legal tussle between Ripple and U.S. Securities and Exchange Commission (SEC) seems to be coming to an end, XRP price is reflecting gains suggesting a positive outcome for the defendants.

Also Read: Ripple Secures Another Win Against US SEC; Hinman Docs To Go Public

XRP Price Zooms Over Ripple Win

XRP price registered a spike of more than 7% in the last 24 hours. Its 24 hour trading volume jumped by 93% to stand at $1.45 billion. XRP is trading at an average price of $0.447, at the press time. It is important to note that the current XRP price jump comes in when the court rejected one of the US SEC’s motions in the XRP lawsuit.

As per the report, Judge Analisa Torres declined the commission’s request to seal infamous Hinman speech linked documents. The US SEC wanted to seal the documents claiming that it reflects non-public deliberations by the agency’s officials. However, the court order will help the defendant to make the memos go public. Read More XRP News Here…

Also Read: Ripple In Lead As US SEC Holds Bad Win Record On Howey Test?

The recent positive decision announced in favor of Ripple has led the XRP to gain amid regulatory uncertainty. XRP price is up by 32% on the year to date (YTD) basis. This suggests a positive momentum for crypto. It is still the 6th largest crypto with a market cap of over $23 billion.

Data received from WhaleAlert depicts that crypto whales have moved around 55 million XRP tokens (approx worth $24 million) in multiple transactions over the past 24 hours. However, the whales moved their XRP holding to dump amid the price surge.

The biggest transaction record by the tracker has been of moving 28 million XRP (approx worth $12.1 million) to the Bitstamp crypto exchange.