Ripple SEC Settlement Speculation Grows Amid 150M XRP Payment !!

#BinanceTurns7 #SOFR_Spike #BinanceTournament #Megadrop #EarnFreeCrypto2024 Amid speculations of a looming Ripple SEC settlement in the XRP lawsuit, on-chain metrics have once again sent tongues wagging across the broader industry. Today, July 17, nearly 195 million coins were recorded to be transferred to and fro exchanges, among which 150 million were moved from Ripple. This chronicle has gained significant traction across the crypto industry, as XRP currently shows signs of a bull run.

Here’s an overview of the Ripple Labs-backed digital asset’s current on-chain statistics, which have echoed a buzz across the crypto horizon.

150M Ripple Transfer & 45M Whale Dump Amid SEC Settlement Speculations.

Intriguingly, the crypto market is abuzz with talks of a looming settlement between Ripple and the SEC in the XRP lawsuit. Pro-Ripple lawyers Bill Morgan and Fred Rispoli have already commented on their expectations of a final judgment in the remedies briefing by the end of July or early August.

In the interim, the American blockchain payments company’s native token has pumped phenomenally. CoinMarketCap’s data shows that the token extended its weekly gains to 38% today.

Additionally, Whale Alert revealed that the renowned whale address ..Rzn moved 45.07 million coins to the exchanges Bitstamp and Bitso in two transactions.

XRP Price Soars

Meanwhile, Ripple’s token’s price noted a significant 11.50% uptick over the past day to rest at $0.609. Its 24-hour bottoms and peaks were $0.5343 and $0.61, respectively.

Coinglass data underscored a market uptrend as the token’s futures OI surged 20.23% to $818.02 million today. Further, even the derivatives volume spiked 55.62% to $5.15 billion, underlining rising investor interest in the asset.

However, the RSI inched more towards the overbought territory, reaching 76, hinting that the price may witness a setback ahead.