• Over 360 million XRP tokens worth around $192 million have been moved by whales in the past 24 hours.
• Whales have been on an accumulation spree, with over 146 million XRP tokens worth approximately $78 million added to their wallets in the last 24 hours.
• Ripple CEO Brad Garlinghouse expects an end to the case this year and the XRP community is confident that the decision will be a positive one.
XRP Whales on The Move
XRP has seen a surge in its price despite red indexes for other cryptocurrencies, with whales making large transactions as the SEC vs Ripple lawsuit comes to a close. WhaleAlert reported that 360 million XRP tokens valued at $192 million were transferred by whales within the last 24 hours, with the largest transaction involving 100 million XRP tokens worth about $53.4 million.
Whale Accumulation Spree
The accumulation of XRP tokens by whales was particularly impressive, as 146 million XRP tokens worth approximately $78 million were added to their wallets over the same period. Data shows that Binance was targeted by these whales, receiving 60.3 million XRP tokens valued at $32.3 million while also transferring 94.4 million XRPhaving a value of around $50.5million out of its wallet – likely due to potential legal complications from CFTC regulations.
XRP Price Action
In terms of price action, XRP experienced a 0.5% increase in its value within 24 hours, reaching a current market cap of $0.535868 while most other cryptocurrencies dropped 1.5%. It is important to note that its relative strength index surged above 70 yesterday before dropping again – potentially signaling loss of momentum and ultimately leading to further drops in price; however, its 30-day moving average recently overtook 200-day moving average which could result in an upcoming breakout rally lasting for several days given how undervalued it has been for such long time period .
SEC vs Ripple Lawsuit Concludes
The SEC vs Ripple lawsuit is expected to come to an end this year according to Ripple CEO Brad Garlinghouse who remains confident about his prediction despite recent price volatility surrounding XRP – he believes that if it concludes positively it would enable Ripple’s business pursuits and consequently drive up prices significantly higher than they are now..
Conclusion
Whales have been actively accumulating more and more of XRPs assets as well as transferring them between unknown wallets which suggests they remain confident regarding outcome of pending lawsuit against Ripple (in which case we may expect even greater appreciation). However conventional indicators suggest that it may be overbought at moment but taking into account how drastically undervalued it has been for so long this should not prevent investors from considering adding some into their portfolios especially when taking into account potential gains once lawsuit ends favorably for company behind cryptocurrency itself – time will tell what lies ahead for third biggest cryptocurrency by market cap!