Whales Scoop Up 180M XRP During Dip, Ripple Lawsuit Judgment in Limbo

• As per the data provided by WhaleAlert, crypto whales have moved around $180 million XRP in multiple transactions over the past 24 hours. 
• The Ripple vs SEC lawsuit has been one of the most closely watched legal battles in the crypto industry.

XRP Whales Buy the Dip Amidst Legal Woes

In the midst of the recent cryptocurrency market correction, XRP whales have been buying the dip and making significant moves. According to recent reports, XRP whales have purchased over $180 million worth of XRP, indicating that there is still strong demand for the digital asset.

This buying spree by XRP whales comes at a time when the cryptocurrency has seen a significant price drop, with its value plummeting by nearly 11% in just a week. The dip in XRP’s value has been attributed to the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC).

However, despite the price drop, XRP whales seem to have confidence in the cryptocurrency’s future prospects. In fact, the whale buying activity is a positive sign for the XRP community as it suggests that investors are taking advantage of the dip and seeing it as a buying opportunity.

The Ripple vs SEC lawsuit has been one of the most closely watched legal battles in the crypto industry. The outcome of the lawsuit is expected to have far-reaching implications not just for Ripple, but for the broader crypto industry. However, the case has been plagued by delays, and the latest news is that the judgment has been postponed yet again.

The uncertainty surrounding XRP’s legal status has caused some investors to lose confidence in the cryptocurrency. However, it seems that XRP whales are not deterred and are continuing to accumulate cryptocurrency.

Despite the accumulation by large wallet investors, XRP’s price has dropped by 1.3% in the last 24 hours. Experts predict that it could reach $0.90 by the end of 2023 if it wins the SEC lawsuit, but if it loses, it could drop to $0.24.

The reasons for the delay are not clear, but it could be due to the complexity of the case or an attempt to encourage a settlement.

Conclusion

The recent buying spree by XRP whales is a positive sign for the cryptocurrency. It suggests that investors are confident in XRP’s future prospects, even in the face of legal challenges. The outcome of the SEC lawsuit will be closely watched by the crypto community, but regardless of the outcome, XRP whales seem to be betting on the long-term success of the cryptocurrency.