XRP whales have taken action to shuffle over 100 million coins on Friday, setting off waves of speculation among traders and investors globally. As the Ripple Labs vs U.S. EC lawsuit reaches a potential end, these transactions have sparked substantial intrigue over the firm’s native coin’s future movements. Simultaneously, XRP price continues to pump, with the asset even surpassing BNB in terms of market cap.
XRP Whales Move Over 100M Coins, Ripple Case End Looms?
According to data from Whale Alert on November 29, two XRP whales have moved heavy amounts of the token. Per the data, rBJ.. moved 104.39 million coins, worth $167 million, to another unknown wallet, rhD. Subsequently, another whale address, rBE.. moved 35 million coins worth $52.28 million to another address, rsX. Altogether, these transactions ignited a speculative buzz as the company’s lawsuit against the U.S. SEC saw waves turning in favor of the American blockchain payments company.
Notably, the American blockchain payments company’s lawsuit against the SEC saw new turns, primarily in favor of XRP. Former CFTC Chairman Chris Giancarlo told FOX Business that the “new SEC will drop the appeal,” mirroring optimism in light of Donald Trump’s reelection. Pro-XRP Lawyers Bill Morgan, Fred Rispoli and Jeremy Hogan also proclaimed that the appeals will likely get dismissed or withdrawn. Overall, the XRP whale transactions amid these legal maneuvers have gained significant traction among industry participants globally.
On the other hand, the court has granted the motion to amend the order pertaining to judgment and stay in the XRP lawsuit, per the latest California district court filing in the re Ripple Labs Inc litigation. Both parties in the lawsuit collectively agreed that there was no specific reason to delay the judgment in the lawsuit, given class claims were resolved. Meanwhile, the plaintiff has requested the court for an “express finding in an amended judgment” primarily to avoid any further delay in the final judgment.
Ripple’s Coin’s Price Continues To Rally
At the time of reporting, XRP price soared 13% over the past day to reach $1.65. Its intraday low and high were $1.43 and $1.68, respectively. Notably, the token’s 24-hour trading volume witnessed a 50% uptick in value to $9.88 billion. The rising movement, as the lawsuit against the SEC nears its potential end, has ignited significant among traders and investors globally. It’s also noteworthy that the token flipped BNB in terms of market cap, boasting a valuation of $94.39 billion.
Meanwhile, a recent XRP price analysis by CoinGape Media revealed that the coin surged past a five-year resistance level in market dominance. This bullish trend has further ignited sentiments of a $10 target ahead for the coin. Market watchers continue to monitor the token, expecting further gains imminent.
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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