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Two XRP whale transactions totaling $219 million have captured global attention amid Ripple’s advancing lawsuit against the SEC. XRP surged 13%, reaching $1.65 as the market reacts to positive legal signals and growing investor confidence.
XRP Whales Transfer Millions, Triggering Market Buzz
Whale Alert reports that on November 29th, two large XRP holders transferred a substantial quantity of token.
If the numbers are to be believed, rBJ.. transferred 104.39 million coins—worth $167 million—to an unnamed wallet belonging to rhD. Afterwards, rBE.. transferred 35,000,000 coins, or $52.28,000,000, to rsX, another whale address.
Taken together, these deals sparked speculation as the American blockchain payments company's case against the U.S. SEC began to take a more favorable turn.
Notably, fresh developments occurred, mainly in XRP's favor, in the American blockchain payments company's lawsuit against the SEC. Anxieties over Trump's reelection have led former CFTC chairman Chris Giancarlo to predict that the "new SEC will drop the appeal" in an interview with FOX Business. Bill Morgan, Fred Rispoli, and Jeremy Hogan, all of whom are pro-XRP lawyers, have also stated that the appeals will most likely be rejected or abandoned.
Ripple's Lawsuit Progress Draws Global Attention
In spite of these legal measures, XRP whale transactions have become very popular among industry players all over the world.
But according to the most recent filing in the re Ripple Labs Inc dispute in the California district court, the court has approved the application to change the judgment order and stay in the XRP case. After the class claims were settled, the parties to the litigation reached a mutual agreement that there was no compelling cause to postpone the decision.
But in the meantime, the plaintiff wants the court to make an "express finding in an amended judgment" so that the ultimate verdict doesn't get delayed any longer.
XRP Price Surge Signals Investor Optimism
In the last day, the price of XRP increased by 13%, reaching $1.65. It hit a low of $1.43 and a high of $1.68 during the course of the day. The token's 24-hour trading volume increased by 50% to $9.88 billion, which is noteworthy.
A large number of traders and investors around the world have been energized by the increasing action as the lawsuit against the SEC approaches its possible conclusion. Importantly, the token's market cap surpassed BNB, with a valuation of $94.39 billion.
The coin broke through a dominance barrier that had been in place for five years, according to a recent XRP price study by CoinGape. Rumors of a $10 price objective for the coin have been stoked by this positive trend. In anticipation of potential future gains, market observers are keeping a close eye on the token.
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