Activity continues in XRP, which is at the top of the list of coins that come to mind when cryptocurrencies are mentioned. He continues to stand out both with his fight and lawsuit with the SEC and with the projects his team has implemented. After the last party event, he expected a price increase, but he did not get what he expected.
XRP Latest Status
XRP investors were mobilized as a result of the movement that took place on Tuesday. An XRP whale moved approximately 410 million XRP, worth $201 million as of writing time, to a new wallet. This move was triggered after the process, which was triggered by the refuted ETF news of traders and investors and resulted in investors' sales. Decisions made in the broader crypto market have led to the recent decline in the XRP price.
According to an incident revealed by Whale Alert on October 17, a huge transaction of 409,776,402 XRP worth more than $201 million was made from crypto exchange Bitvavo. It would not be wrong to say that the transaction data shows that this wallet address was activated today. Therefore, the person or institution that owns this wallet may be a new whale. The owner of the wallet address seems to have faith in the rise of cryptocurrency.
On the other hand, XRP may be focused on new news from the long-running case between Ripple Labs and the US Securities and Exchange Commission (SEC). Following another positive development, it may increase its awareness and global adoption.
While all this was happening, Judge Torres recently rejected the SEC's appeal regarding the XRP case. Accordingly, the next hearing of the case is expected to take place in April 2024. According to some sources, it is predicted that a new trial may not take place.
The Future of XRP
Whales made significant purchases of XRP following the #XRP price drop to $0.47. Accordingly, the transaction volume doubled this week and exceeded the 1 billion dollar threshold. Additionally, crypto funds also saw inflows following Ripple's big victory against the SEC, with institutional investors buying XRP for the 25th week in a row.
XRP price is trading at $0.4882, up 0.14% in the last 24 hours. The 24-hour low and high were $0.489 and $0.505, respectively. While the price is trading below the support level, strong trading volume above $1 billion could be a trigger for an upward price movement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should know that crypto currencies carry risks due to their high volatility and should carry out their transactions in line with their own research.