There has been a long-standing lawsuit between Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC). Ripple’s native token, XRP, has not seen any incremental growth throughout the case. The stagnation of its price action persisted even before the extreme crypto winter.
But things seem to have changed dramatically for XRP recently. The price of XRP is positively awakening as the case is decided. Furthermore, cryptocurrencies are gradually becoming the first choice of most BSC whales.
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XRP has shown greater stability amid the collapse of the wider crypto space. It is one of the rare coins that does not exhibit huge fluctuations in value. In 30 days, the XRP price saw a marginal increase of 1%. This impressive trend is the exact opposite of the king of crypto bitcoin. The price of BTC fell by nearly 10% during the same period.
WhaleStats shows the sudden rise of XRP as one of the most used smart contract tokens. It noted that this trend has persisted in 1,000 and 500 BSC whales over the past 24 hours. Additionally, the firm’s records show that the top 2,000 large investors in BSC hold large XRP tokens worth around $15.09 million.
Whale activity in XRP has increased following the announcement of a long-running lawsuit between Ripple and the SEC.
Through Judge Netburn’s statement, the court denied the SEC’s assertion of Himan’s ETH speech. In addition, the committee received a court mandate to produce all relevant internal documents.
The court order states that the committee is expected to submit two proposed amendments to allow the court to conduct an in-camera review. Ripple’s lawyers noted that the SEC could appeal the court’s decision to Judge Torres. Additionally, the SEC may require up to one to two weeks to file an objection.
Ripple XRP gets more currency pair list
In a new development, the Bitrue cryptocurrency exchange is offering support for the Ripple XRP token. According to the exchange’s statement, it will list up to 10 XRP pairs on its platform for customers. Additionally, the exchange said its currency pairs will be used to encrypt SAND, MANA, AAVE, BTTC, ALGO, AR, APE, CHZ, HBAR and DENT.
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Data from the report source highlights that at the time of writing, XRP is currently trading at $0.35. The transaction volume is about 1.11 billion%. Ripple XRP still maintains its market cap of over $15.22 billion.
Featured image from Pexels, chart from TradingView.com