The community is anticipating the US SEC’s opening brief of appeals in the Ripple vs SEC case as whales move 130M XRP.
In a captivating turn of events, crypto whales have recently transferred over 100 million of Ripple’s native coin, which has sparked speculation as new developments in the ongoing lawsuit against the U.S. SEC unfold. The most recent whale data revealed that over 130 million coins were transferred. Additionally, both parties submitted a stipulation regarding the delay in submitting the cross-appeal appendix and appeal in the XRP lawsuit.
Consequently, traders and investors are thoroughly examining the token for price action fluctuations in the context of a broader crypto market recovery sentiment.
XRP News: The heavy shuffle of whales has sparked speculation
Two significant whale transactions on X have collectively contributed to the transfer of 130 million XRP in the past 24 hours, as indicated by the most recent data from Whale Alert. According to the Whale Alert data, 100 million coins, valued at $265.46 million, were transferred from the unknown address rP4X2 to rhWt2.
The address rUvEC2 also dumped 30.17 million coins valued at $80.59 million to Coinbase. These whale transactions, which have replicated a market frenzy amid the broader sector’s reflection of a recovery trend, have occurred in conjunction with Ripple and the U.S. SEC’s decision to file a stipulation.
Stipulation Regarding Cross-Appeal in Ripple and SEC File
In other XRP news, the American blockchain payments company and the U.S. SEC have submitted a stipulation in the ongoing XRP lawsuit. Both parties have agreed on a deadline for submitting a deferred appendix concerning cross-appeals, as per defense attorney James K Filan.
It is important to note that this indicates that the SEC and Ripple have agreed on the timeline for filing critical documents related to the cross-appeals, which is “21 days after the appellee’s (SEC’s) brief is served.” Additionally, Filan stated that the SECGov’s introductory brief must be submitted by tomorrow. In general, the significant whale transactions mentioned above have heightened the intrigue among market participants as this new legal maneuver is implemented.
What is the future of the XRP price?
The XRP price is currently at $2.75 and has experienced intraday gains of 7% at the time of reporting. The 24-hour low and peak of the coin were $2.55 and $2.89, respectively. As previously indicated, the coin experiences an increase in value in conjunction with the general market recovery.
Additionally, the cryptocurrency network has experienced increased activity, contributing to investors’ optimism. Notably, the XRP network has experienced a significant increase in transactions with a value exceeding $1 million, as recently disclosed by the esteemed crypto market analyst Ali Martinez. This bullish dynamic, which emphasizes increased market interest, tilts the scales in favor of the crypto.
CoinGape’s most recent XRP price analysis also indicates that the cryptocurrency is approaching a price target of $3.5. This bullish forecast is issued Against robust market technicals, increasing likelihood of XRP ETF, and broader market trends. The aforementioned dynamics have emerged as some of the most significant XRP news, igniting speculation throughout the crypto community.
