Altcoin
Whales Shift 130M Coins Ahead of Key Filing in Ripple Vs SEC Case
XRP News: In a riveting turn of events, crypto whales have recently shifted over 100 million of Ripple’s native coin, sparking speculations as new developments in the ongoing lawsuit against the U.S. SEC unfold. The latest whale data indicated over 130 million coins were transferred, while both parties filed a stipulation regarding appeal and cross-appeal appendix submission delay in the XRP lawsuit.
As a result, traders and investors are now extensively monitoring the token for price action shifts amid a broader crypto market recovery sentiment brewing.
XRP News: Whales Shuffle Heavily Sparking Speculations
According to recent data from Whale Alert on X, two massive whale transactions collectively aided in the transfer of 130 million XRP in the past 24 hours. As per the Whale Alert data, 100 million coins, worth $265.46 million, were shifted from the unknown address rP4X2… to rhWt2…
Further, 30.17 million coins, worth $80.59 million, were dumped to Coinbase by the address rUvEC2. Altogether, these whale transactions, occurring amid Ripple and the U.S. SEC’s decision to file a stipulation, have echoed a market frenzy amid the broader sector’s reflection of a recovery trend.
Ripple & SEC File Stipulation Related To Cross Appeals
Meanwhile, in another buzzworthy XRP news, the American blockchain payments company and the U.S. SEC have filed a stipulation in the ongoing XRP lawsuit. According to defense attorney James K Filan, both parties have agreed on a timeline to file a deferred appendix related to cross-appeals.
Notably, this signals that the SEC and Ripple agreed on the timeline for filing key documents related to the cross-appeals, i.e., “21 days after appellee’s (SEC’s) brief is served.” Also, “The SECGov’s opening brief still must be filed by tomorrow,” Filan added. Overall, as this new legal maneuver unfolds, the massive whale transactions mentioned above have added a layer of intrigue among market participants.
What’s Next For XRP Price?
At the time of reporting, XRP price witnessed gains worth 7% intraday and is currently sitting at $2.75. The coin’s 24-hour low and high were $2.55 and $2.89, respectively. Notably, the coin rises alongside the broader market recovery, as mentioned above.
Further, rising activity across the crypto’s network has added to optimism among investors. Notably, renowned crypto market analyst Ali Martinez recently revealed that the number of transactions with a value of over $1 million has risen substantially across the XRP network. This bullish dynamic, underscoring heightened market interest, tilts the scales towards the optimistic side for the crypto.
Simultaneously, a recent XRP price analysis by CoinGape revealed that a $3.5 price target for the crypto also looms. This bullish forecast comes against the backdrop of strong market technicals, rising odds of XRP ETF and broader market trends. Overall, the abovementioned dynamics have emerged as some of the most impactful XRP news, sparking speculations across the crypto community.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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