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As the legal battle between Ripple and the SEC intensifies, the XRP community&nbsp;is closely monitoring&nbsp;developments, with Ripple filing its opposition brief against the SEC’s remedies-related motion. Meanwhile, amid this ongoing legal turmoil, significant whale transactions have occurred, raising speculation in the crypto market and impacting investor sentiment regarding XRP’s future.
<h2 id="span-data-preserver-spaces-true-whale-transactions-fuel-speculation-span">Whale Transactions Fuel Speculation</h2>
The Ripple Vs. SEC lawsuit has been one of the hottest topics in the crypto market lately, with a flurry of investors seeking legal clarity&nbsp;on the matter. It’s worth noting that the XRP price has also gone through volatile trading lately, which several experts have attributed to the ongoing <a href="https://coingape.com/blog/xrp-vs-sec-case-update-the-timeline-of-ripple-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">XRP lawsuit</a>.
Meanwhile, amid this, two significant XRP transactions have caught the eyes of the market participants. Notably, two&nbsp;major&nbsp;whale transactions, totaling 40 million XRP, have captured the attention of investors, signaling a potential shift in sentiment towards the cryptocurrency.&nbsp;
According to data from Whale Alert, two whales acquired substantial amounts of XRP from <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">Binance</a>, injecting positive momentum into the market. Looking closely at the transactions, one whale, identified by the wallet address rfQ9E…k8Cvi, acquired 18.84 million <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ripple/506401DA2116EA4ECB38EE9BB1432851F8CF23C4AA15CCD8AC6FE4FA88BCEC81" target="_blank">XRP</a>, valued at approximately $10.26 million, from Binance.&nbsp;Similarly, another whale, with the wallet address rarG6…2bZKk, accumulated around 19.90 million XRP, worth&nbsp;approximately $10.92 million, from the same <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange</a>.
This significant accumulation has sparked discussions in the crypto market over its potential implications on the XRP price.&nbsp;In addition, the move also signals&nbsp;a growing confidence of the investors&nbsp;towards the XRP crypto.
Also Read: <a href="https://coingape.com/solana-congestion-resolved-raoul-pal-predicts-sol-price-hit-1200/" target="_blank" rel="noopener noreferrer nofollow">Solana Congestion Resolved, Raoul Pal Predicts SOL Price To Hit $1200</a>
<h2 id="span-data-preserver-spaces-true-xrp-price-amid-ripple-s-latest-stance-span">XRP Price Amid Ripple’s Latest Stance</h2>
Ripple’s recent opposition brief against the SEC’s motion for final judgment and substantial penalties underscores the critical juncture in the ongoing lawsuit and its potential impact on XRP’s price trajectory. <a href="https://coingape.com/xrp-news-lawyers-reveal-appeal-settlement-fine-in-ripple-vs-sec/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> challenges the SEC’s proposed penalties of $2 billion, arguing against the excessive disgorgement and civil penalties sought by the regulatory body.
In its defense, Ripple presents three compelling arguments, questioning the <a href="https://coingape.com/ripple-files-opposition-agrees-pay-10m-penalty-us-sec-xrp-news/" target="_blank" rel="noopener noreferrer nofollow">SEC’s failure</a> to demonstrate future violations and highlighting legal precedents that limit disgorgement. In addition, Ripple contends that the civil penalty should not exceed $10 million, citing weaknesses in the SEC’s case and comparative fines in other digital asset litigation.
Meanwhile, despite the positive transaction, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> traded at $0.5405, noting a decrease of 0.80% over the last 24 hours. Simultaneously, its trading volume from yesterday also fell 21% to $1.34 billion at the same time. However, despite the recent retreat, the crypto’s price has added nearly 11% over the last seven days.
Also Read: <a href="https://coingape.com/just-in-central-bank-of-nigeria-debunks-rumors-banning-accounts-of-p2p-traders/" target="_blank" rel="noopener noreferrer nofollow">Central Bank Of Nigeria Debunks Rumors Banning Accounts Of P2P Traders</a>
The post <a href="https://coingape.com/xrp-news-whales-bag-40m-xrp-ripple-counters-sec-2b-fine/" rel="noopener noreferrer nofollow">XRP News: Whales Bag 40M XRP As Ripple Counters SEC’s $2B Fine</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP News: Whales Bag 40M XRP As Ripple Counters SEC’s $2B Fine

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