As the court rejects the SEC’s claims, XRP trading volume increases

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Last Updated on July 16, 2022 by Bitfinsider

Price rise of XRP, Ripple’s native coin, has been constrained by the continuing legal dispute with the US SEC. However, recent favorable court verdicts in the blockchain company’s favor have caused the token price to soar.

Santiments claims that on Friday, the XRP network experienced extremely high activity. The trading volume for the token increased significantly in the final hour of the day, reaching $18.7 billion. This increase portends significant price movement over the weekend.

Source: Twitter

According to the data presented in the tweet, the trade volume for XRP was around $2 billion at the start of the day. However, by the end of the day, it had soared to $18.7 billion. The 24-hour trading volume for the token is at $1.26 billion.

Large-scale transactions were reportedly made at the time, according to the Whale Alert. A whale gathered XRP tokens for the Bitstamp cryptocurrency trade platform valued $14.8 million. While XRP tokens worth almost $30 million were transferred from unidentified accounts to cryptocurrency exchanges.

The cost of XRP has increased by more than 7% during the past 30 days. As of the time of publication, it is trading for an average price of $0.3405. The coin continues to retain a market cap of more than $16.46 billion despite the protracted legal dispute.

The end of Jed McCaleb’s XRP holdings

According to the research, BSC whales now favor the XRP coin above all others. The largest BSC whales currently hold XRP tokens worth more over $16 million.

Jed McCaleb, the former CTO of Ripple, has been on a selling frenzy ever since he left the company. His overall holding is now nearing its conclusion. According to a source, McCaleb will exhaust its supply of XRP coins by the end of July 16, 2022. It has taken more than 8 years to complete this massive selling spree.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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