<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-buy-large-quantities-of-xrp" rel="noopener noreferrer nofollow">Whales Buy Large Quantities of XRP</a><br></p>
<p style="text-align: justify">In a noteworthy move, Ripple whales have acquired over 110 million <a href="https://en.bitcoinhaber.net/exploring-xrps-market-position-and-potential-for-a-bull-run" rel="noopener noreferrer nofollow">XRP</a> tokens worth approximately $55 million over the past two weeks. This substantial accumulation demonstrates a show of faith in XRP, Ripple’s native token, despite the ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC).</p>
<h2 id="how-is-xrp-performing-in-the-market">How is XRP Performing in the Market?</h2>
<p style="text-align: justify">Within the last 24 hours, XRP’s price has surged by over 3%, offering a sense of optimism among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a>. Currently trading at $0.5174, XRP has surpassed the resistance level of $0.5114 and distanced itself from the support at $0.4974. The 12.39% rise in trading volume over the same period suggests a continuation of this positive trend in the near term.</p>
<p style="text-align: justify">Conversely, the XRP/TRY pair has seen a 3% increase, reaching 16.7 TL. Additionally, a 2.2% rise in Open Interest (OI) indicates that investors are opening new positions on the expectation of further price movements. However, a notable 46.56% drop in XRP volume options points to a decrease in speculative trading activities.</p>
<p style="text-align: justify">This significant whale activity in accumulating XRP may influence the market and potentially shift investor sentiment. The overall positive outlook for XRP’s <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">future</a> performance is a sign of growing confidence, likely drawing more investors into the market.</p>
<h2 id="why-is-the-legal-situation-crucial-for-ripple">Why is the Legal Situation Crucial for Ripple?</h2>
<p style="text-align: justify">With the SEC lawsuit ongoing, these large-scale purchases by whales come at a critical juncture for Ripple. The legal battle between Ripple Labs and the SEC is entering a new phase, as Ripple recently submitted multi-purpose letter motions regarding the sealing of specific documents. Ripple CFO Jonathan Bilich expressed support for sealing documents related to discounts offered to institutional XRP buyers.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Ripple whales have purchased over 110 million XRP tokens, indicating strong confidence in XRP.</li>
 <li>XRP’s price has risen by 3% in the past 24 hours, currently trading at $0.5174.</li>
 <li>The XRP/TRY pair has seen a similar increase, reaching 16.7 TL.</li>
 <li>A 2.2% rise in Open Interest suggests new positions being taken by investors.</li>
 <li>A 46.56% drop in XRP volume options indicates reduced speculative trading.</li>
</ul>
<p style="text-align: justify">In summary, the recent large purchases of XRP by whales represent a significant vote of confidence in the token during an uncertain period marked by ongoing litigation with the SEC. This development could potentially lead to a shift in market sentiment, encouraging further <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investment</a> in XRP.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-buy-large-quantities-of-xrp" rel="noopener noreferrer nofollow">Whales Buy Large Quantities of XRP</a></h5>

Whales Buy Large Quantities of XRP

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