Recent whale activity has caused a stir in the cryptocurrency market. Over 130 million XRP coins were moved in two large transactions, raising speculations as Ripple’s ongoing lawsuit with the U.S. SEC reaches a pivotal point. As both parties prepare for a key filing in the case, traders are eagerly watching for potential price shifts amid broader market recovery.
Whale Activity Sparks Speculation
According to data from Whale Alert, two substantial transfers occurred within the last 24 hours, involving over 130 million XRP. The first transaction saw 100 million XRP, worth approximately $265 million, moved from an unknown address to another wallet. In a second transaction, 30.17 million XRP, valued at $80.59 million, were transferred to Coinbase. These moves have intensified speculation, especially as Ripple and the SEC file a stipulation regarding their upcoming appeals.
Ripple vs SEC: Legal Maneuvers Continue
In parallel with the whale activity, Ripple and the U.S. SEC have filed a stipulation outlining a timeline for submitting key documents related to their ongoing legal battle. Both sides have agreed to file their deferred appendix 21 days after the SEC’s opening brief is served. This legal move has added further intrigue to the situation as investors closely monitor any developments that could impact the future of XRP.
What’s Next for XRP’s Price?
As of the latest reports, XRP has shown promising price action, with a 7% intraday gain. The token is currently trading at $2.75, with a 24-hour low and high of $2.55 and $2.89, respectively. This uptick follows the broader recovery trend seen across the crypto market. Moreover, rising activity within the XRP network is fueling investor optimism.
Also Read: Ripple’s RLUSD Stablecoin Launch: What’s Next for Exchange Listings and Market Predictions for 2025
Crypto analyst Ali Martinez recently highlighted that transactions worth over $1 million have surged across the XRP network, indicating strong market interest. Furthermore, a bullish forecast suggests a potential price target of $3.5 for XRP, supported by positive market technicals and growing anticipation for an XRP ETF.
Conclusion
With massive whale transactions and key legal developments unfolding, the XRP community remains on edge. As the price continues to show signs of strength and speculation intensifies, the next few weeks could be crucial in determining the token’s short-term trajectory. Investors are advised to stay informed as both the Ripple vs SEC case and XRP’s market activity evolve.
