XRP Whale Moves Another 52M XRP Tokens Transaction
The recent activity of XRP whales has garnered significant investor attention following Ripple’s filing of a cross-appeal against the U.S. SEC in the XRP lawsuit. On-chain data indicates that approximately 52 million XRP coins were transferred to crypto exchanges earlier today, raising market concerns despite Ripple’s legal filing. The native coin of the firm has experienced predominantly positive trading, eliciting mixed sentiments among investors in light of recent developments.
Another 52 Million XRP Token Transaction
According to data from the blockchain tracking platform Whale Alert, XRP whales dumped 52 million coins onto crypto exchanges on October 11, despite Ripple’s optimistic cross-appeal filing. An unknown whale address, rGd..p1k, transferred 52 million coins valued at $27.83 million to the crypto exchange Bybit. These transactions have sparked investor speculations, reflecting a bearish market sentiment for the asset, notwithstanding Ripple’s legal maneuvers.
In response to the lawsuit, Ripple filed a cross-appeal against the U.S. SEC regarding the final judgment in the lawsuit, additionally, Bitnomial, a cryptocurrency derivatives exchange, filed a lawsuit against the U.S. SEC concerning XRP futures contracts. These recent market events suggest that Ripple’s native coin benefits from legal maneuvers in its favour.
Market Performance
Despite the XRP whale dumps, the price of XRP has experienced a 1% gain over the past day, reaching $0.5357. The coin’s intraday low and high were recorded at $0.5239 and $0.5432, respectively. Meanwhile, Coinglass data has indicated that the coin’s futures open interest (OI) surged nearly 4% over the past day to $711.55 million, with derivatives volume increasing by 85% to $1.30 billion. These figures underscore growing investor interest in the asset and instill optimism for the crypto’s long-term prospects in the wake of recent developments.
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