Massive Accumulation
In a significant development, Ripple whales have accumulated 47 million XRP, valued at approximately $29.1 million, ahead of the U.S. Securities and Exchange Commission's (SEC) appeal deadline. This substantial accumulation has sparked optimism regarding the token's future price action.
Whale Activity
According to blockchain tracker Whale Alert, two unknown whale addresses collectively made the massive accumulation on September 30. The breakdown includes:
- 31 million XRP ($19.79 million) transferred from Upbit to an unknown wallet address (rB2uUZQCjo)
- 16 million XRP ($10.31 million) transferred from Upbit to another unknown wallet address (r4186vVNuH)
Market Impact
These colossal accumulations underscore increased investor confidence in XRP's potential, reverberating market optimism about future movements. At press time, XRP traded above $0.62, maintaining a bullish stance amid rising whale activity and lawsuit developments.
SEC Appeal Deadline Looms
Pro-Ripple attorney Fred Rispoli estimates a 60% chance of the SEC filing an appeal, while Ripple president Monica Long asserts that the lawsuit has concluded, yielding significant regulatory clarity. The Ripple community eagerly awaits a final decision.
Expert Insights
Rispoli notes that the stakes are high, emphasizing the importance of the outcome. Long's confidence in Ripple's regulatory clarity suggests a positive outlook for the token.
Market Sentiment
The combination of whale accumulations and lawsuit developments has sparked discussions across the broader market. Investors are cautiously optimistic, awaiting the SEC's next move.
Key Takeaways
- Ripple whales accumulate 47 million XRP ahead of SEC's appeal deadline
- XRP price maintains bullish stance above $0.62
- SEC appeal deadline looms, with expert predictions divided
- Ripple president Monica Long confident in regulatory clarity
- Market sentiment cautiously optimistic
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