XRP price is once again attracting investor attention today, While prices have fallen by more than 2%. However, as a recent series of trades shows, whales appear to be seizing the opportunity to buy on the downside. At the same time, the large purchases by XRP whales come ahead of the SEC’s April 29 response deadline, sparking speculation in the broader crypto market.
Increase in whales reflects market optimism
According to on-chain data tracking platform, Whale Alert, Whales purchased approximately 75 million XRP from Binance, reflecting growing investor confidence in cryptocurrencies.For example, recent transactions carried out This is from an unknown whale identified by the wallet address “rhWj9….FLQkK”. Whale purchased 24.05 million XRP (worth approximately $12.39 million) from Binance today.
At the same time, another whale with wallet address “rfQ9E…k8Cvi” accumulated 26.33 million XRP (equivalent to $13.56 million) from the same cryptocurrency exchange.Yet another transaction attracted attention Where have you been lately? whale “rhLTH….rtNXN” was purchased 24.11 million copies. XRP From Bitvavo exchange.
Meanwhile, whales appear to be regaining faith in the cryptocurrency XRP. Selection subject Expected developments in Ripple VS The SEC lawsuit will be held next week.For example, yesterday Also The two whales have accumulated approximately 46 million XRP from Binance, indicating that traders are shifting their focus to cryptocurrencies.
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XRP price rises ahead of SEC response filing deadline
Magistrate Judge Sarah Netburn has set a deadline for the Securities and Exchange Commission (SEC) to file a response to its ongoing legal dispute with Ripple Labs. The SEC’s response, expected to be filed by April 29, 2024, follows a motion to dismiss the SEC’s expert filings aimed at strengthening Ripple’s case.
Meanwhile, Ripple Given The timeline for filing a response with the SEC is three business days. Notably, this schedule update comes in the midst of Judge Netburn’s recent appointment as District Judge for the Southern District of New York, a position she retains. supervision of the incident.
However, despite massive whale accumulation, XRP price failed to maintain its upward momentum amid the broader crypto market decline. For context, the entire virtual currency markettogether Selection subject Cryptocurrencies such as BTC, SOL, SHIB, Today we witnessed a sharp decline.
At the time of writing, XRP price is down 2.25% and trading at $0.5142, while trading volume is down 27% to $959.03 million. Notably, the cryptocurrency has reached a high of $0.5294 and a low of $0.5104 in the past 24 hours, reflecting a highly volatile scenario in the market.
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