Ripple’s XRP token has attracted attention with the positive developments in the SEC case and the massive purchases of whales worth $180 million. Climbing to $2.39 during the day, XRP made a huge gain of 63% on the week and 367% on the month.
This rise in the XRP price is supported by the massive accumulation of approximately $180 million by Ripple whales. In particular, positive developments in the ongoing case with the US Securities and Exchange Commission (SEC) have led to significant gains in the price of XRP, which has brought Ripple to the third place by market capitalization.
The recent large purchases by Ripple whales have increased interest in the asset, coupled with positive signals from legal processes. According to data released by Whale Alert on December 2, there was a large-scale accumulation during the day. According to the data, the r32…yLn wallet address purchased 50 million XRP tokens from the crypto exchange Upbit for $116.50 million. In addition, another wallet address named rfQ…Cvi accumulated a total of 25.08 million XRP tokens, or approximately $61.08 million worth of XRP, in two transactions on the Binance exchange. These large purchases increased interest in XRP, reinforcing investors’ expectations of more profit in the future.
The XRP price rose by 29% on the day to $2.39. The lowest price during the day was $1.87, while the highest price was $2.49. Looking at the weekly and monthly data, it is seen that XRP gained 63% and 367%, respectively. This increase has created strong optimism in the market due to the large purchases of Ripple whales and the positive developments in the case.