XRP (Ripple) has been attracting the attention of large investors. Despite Ripple's ongoing legal issues, these "whales," are buying and holding significant amounts of XRP.
There could be a few reasons for this. They might be expecting positive developments in the legal proceedings or they may believe that XRP is currently undervalued and its price will increase in the future.
Recent data on the blockchain shows that these whale bought an additional $170 million worth of XRP just before the release of important documents related to a speech by Hinman.
When whales invest such a large sum of money into a particular cryptocurrency, like XRP in this case, it usually indicates that they expect the price to go up. This demonstrates their confidence in the overall cryptocurrency market.
The possibility of a price increase for XRP is seen as more likely despite the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC).
Currently, XRP is valued at $0.4880 and has a total market capitalization of $26.1 billion.
