Whales Raise 48M XRP Amid Ripple Lawsuit Developments, Price Rises 8%.

In a significant development, whales have accumulated over 48 million XRP as new legal proceedings in the Ripple class action lawsuit unfold. This accumulation follows a landmark ruling by Judge Phyllis Hamilton and signals continued positive momentum.

Judge Phyllis Hamilton recently granted the parties until July 26 to file a notice to exclude four expert testimony. Also, Zakinov vs. The Ripple Labs case was referred to Judge Robert Illman for further resolution. These directives apparently created positive market sentiment among major #XRP investors and triggered significant buying activity.

According to cryptocurrency tracking service Whale Alert, two large transactions were recorded on Binance, accounting for a total of 48.13 million XRP. rfQ9EcLkU6 wallet purchased 24.29 million XRP worth approximately $14.52 million. Another wallet, rarG6, acquired 23.84 million XRP worth approximately $13.77 million.

Recent buying pressure from whales triggered a significant price increase for XRP, with the cryptocurrency gaining 8.90% in value. It is currently trading at around $0.5941. This price action reflects a growing positive market sentiment in anticipation of positive legal outcomes.

Analysis from CoinOtag Media highlights the potential for growth-driven wave three on the XRP Ledger (XRPL) to reach its target of $1. Relative Strength Index (RSI) technical indicators at 66 point to a continuing bull trend. Moreover, according to Coinglass data, open positions increased by 7.77% to 804.11 million dollars, and derivative volume increased by 1.38% to 3.71 billion dollars, which supports the market trend.

Recent developments in the #Ripple class action lawsuit and the subsequent accumulation of XRP point to a positive market expectation. While $XRP price is experiencing a significant increase, the cryptocurrency looks poised for further gains.