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XRP Pumping for Multiple Reasons: Major XRP Army Member

Sat, 09/24/2022 - 09:15
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Yuri Molchan
This XRP fan has shared one of the reasons for XRP price going up recently
XRP Pumping for Multiple Reasons: Major XRP Army Member
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Twitter user Ben Armstrong, investor and holder of XRP, ADA and ETH, according to his Twitter bio, has tweeted to his 888.4 million army of followers that he knows the main reason of XRP pumping in the past week.

Image via TradingView

Major reason for XRP rise

In the past week, the seventh largest digital currency has added a staggering 58.37 percent. Armstrong believes that there are multiple reasons for this long-expected rise. However, he believes the main driver here has been the fact that “the SEC basically gave up trying to prove XRP is a security”.

Over the past weekend, both SEC and Ripple filed motions for summary judgment, expecting Judge Torres to make a verdict in favor of one of the sides based on evidence provided in all the previous filings.

In a recent interview, chief executive of Ripple Brad Garlinghouse stated that the judge has enough evidence to come to a verdict in favor of one of the parties without sending the case to a jury trial.

Ripple Labs and the XRP community are optimistic that the judge will end the case in favor of Ripple, stating that XRP is not a security.

As reported by U.Today earlier, influencer David Gokhshtein believes that if Ripple finally manages to win this case, the whole crypto industry will go parabolic.

XRP Lawsuit: Ripple CEO Says Case Is Entirely Dependent on This Particular Entity: Fox Business

Whales moving large amounts of XRP

Another reason for the recent XRP surge, according to Sentiment data aggregator, is an increase in whale XRP movement. Over the past week, Whale Alert crypto tracker has been noticing staggering amounts of XRP shifted by anonymous addresses with Ripple taking part in those too.

Up to one billion XRP tokens has been moved over the past week, according to the aforementioned source.

At the time of this writing, XRP is changing hands at $0.49560 on the Bitstamp exchange.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at