Main navigation

XRP Price Eyes Next Move After 425 Million XRP Gets Shifted

Sun, 12/11/2023 - 15:11
XRP Price Eyes Next Move After 425 Million XRP Gets Shifted
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Whale Alert, a cryptocurrency data tracker, indicates a large XRP move in the last 24 hours. A new whale seems to have been born for XRP, the fifth-largest cryptocurrency by market capitalization.


In a tweet, Whale Alert reports that less than half a billion XRP has been transferred to a new wallet. According to Whale Alert, 425,807,780 XRP worth $288,496,378 was transferred from an unknown wallet to an unknown new wallet.

The exact reason for the transfer remains unknown, but the possibility remains that of buying, most likely an OTC (over-the-counter) transaction that occurs outside of a crypto exchange.

XRP seeks to establish a new move following a significant surge in the early part of the past week that reached highs of $0.732 on Nov. 6.

XRP Reclaims Key Level as Interesting Altcoin Scenario Begins

After a breathtaking ascent, bulls took a breather and could not reach the $0.74 level. Following that, XRP saw profit-taking, reaching lows of $0.628 on Nov. 9 before beginning to recover.

XRP was up 0.1% in the last 24 hours to $0.667 at the time of writing. Currently, all eyes are on a sustained break over $0.74, which would take XRP to $0.85. If bears take the upper hand, XRP may retest the $0.62 level as support.

Ripple CEO says SEC has lost sight of its mission

Ripple CEO Brad Garlinghouse believes the SEC has lost sight of one of its primary responsibilities as a regulator, CNBC reports.

In December 2020, the SEC filed a lawsuit against Ripple and its executives, alleging unregistered security offerings with XRP sales.

Ripple achieved a significant victory in July when a judge declared that XRP is not a security in and of itself. Following that, the SEC's request for an interlocutory appeal was denied. The SEC then dropped its claims against Ripple executives Brad Garlinghouse and Chris Larsen in October.

Ripple vs SEC: Here's Latest Twist in Legal Battle

The next phase in the case is the remedies' discovery process. According to a proposed schedule submitted to the court, the SEC has 90 days beginning Nov. 9 to conduct remedies-related discovery.


Latest Press Releases

Fidelity Surpasses BlackRock and Other ETFs by Daily Bitcoin Inflows Today
Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
MetaClip (MCLP) Cryptocurrency Sale Campaign Invites Investors as XRP Price Growing
DeeStream (DST) Asset Release Campaign On-Boards Investors as Blur (BLUR), Cosmos (ATOM) Keep Surging
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
DeeStream (DST) Crypto Coin Sale Campaign Might be in Spotlight since Shiba Inu (SHIB), Polkadot (DOT) Supporters Waiting for Upgrades
Cardano Founder Hails Elon Musk's X for Crushing ECB's Bitcoin Diss
First ERC404 Token Pandora Shows Explosive Performance as Whales Turn to Buying
Our social media
There's a lot to see there, too

Popular articles