Whales Become Active Amid the Rising Sentiments With the Ripple vs SEC Case! Will XRP Price Rise?
The ripple vs SEC case has been the top-rated event ever since its inception back in December 2020. While some of the market participants still believe that the prices could deflate soon to mark new lows, XRP whales sense the upcoming trend and begin to work on their strategy. Recently, a huge transfer was recorded which collided with the times when the XRPArmy believes the lawsuit will be settled in 2023.
In a recent development around the lawsuit, John Deaton, founder of Crypto-law and the XRP Army representative in the court held a poll. The poll was to know whether the lawsuit will be settled in 2023 or not, which resulted in more than 50% of positive responses. Soon after the polls went live, whales became active and transferred huge amounts of XRP tokens.
The XRP whales appear to have moved more than 618 million XRP worth nearly $221 million collectively in the past few hours. While the whales nowadays have not remained dormant and continue with their transfers frequently, the timing that collided raised many eyebrows. Besides, the price remained largely unchanged.
The price, however, remained largely consolidated below $0.35 for the past few days and display the possibility of a bearish yearly close. Meanwhile, if the Summary Judgement is produced as per the schedule, somewhere by the end of Q1 2023, then the possibility of a major price action could emerge. Else the recovery phase may be extended with fewer or no volatility for long.