XRP Whales Accumulate While Price is Soaring
XRP is making headlines again as major investors scoop up large amounts of the cryptocurrency amid a positive shift in its legal battles.
Recently, whales have purchased over 48 million XRP, driven by anticipation of price increases and favorable court developments.
Judge Phyllis Hamilton has set a deadline of July 26 for determining the inclusion of certain expert testimonies in Ripple’s ongoing legal case.
Meanwhile, the case involving Zakinov vs. Ripple Labs has been handed to Magistrate Judge Robert Illman for further consideration.
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Additionally, Hamilton has supported Judge Torres’ previous decision that XRP is not a security, boosting investor confidence.
Whale Alert has reported two significant transactions: one whale bought 24.29 million XRP, and another acquired 23.84 million. These purchases reflect strong interest in XRP following the legal progress.
Despite the ongoing legal proceedings and pending final judgment from Judge Analisa Torres, XRP’s value has risen by 8.90%, trading at $0.5941. The cryptocurrency’s price has fluctuated between $0.5478 and $0.6038 in recent hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
