NewsletterXRP News: Whales Adding More XRP Amid Ripple Settlement 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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- December Recovery Ahead? Coinbase Outlines Why Crypto Market May Rebound
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- CoinShares Fires Back at Arthur Hayes, Dismisses Fears Over Tether Solvency
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
