XRP Price: Whales Hoard 130M Coins As Ripple Lawsuit Goes To Magistrate Judge, What’s Next?

Whale Accumulations Boost XRP's Price Outlook

Amidst positive developments surrounding the Ripple community, whales have amassed significant amounts of XRP, fueling optimism for its future price performance.

Chain analysis indicates that nearly 130 million XRP were accumulated when the Ripple XRP lawsuit was transferred to a magistrate judge for settlement. Ripple CEO Brad Garlinghouse expressed confidence in the outcome, triggering a surge in whale activity and investor interest.

Overviews of Recent Developments:

• Whale Alert reported that three whales collectively acquired 129.77 million XRP in 24 hours.
• These whale addresses have consistently accumulated XRP since it fell close to $0.5.
• As XRP dropped to $0.4, they continued purchasing, suggesting a "buy-the-dip" strategy.
• Prominent XRP whale rarG6FaeYh purchased 51.62 million coins from Binance, valued at $25.26 million.
• Another whale, rfQ9EcLkU6, acquired 26.24 million coins from Binance, totaling $12.82 million.
• rhWj9gaovw amassed 51.91 million XRP, worth $25.41 million, demonstrating investor confidence.

Ripple CEO Brad Garlinghouse's Optimism:

Garlinghouse's comment, "the big win," conveyed optimism for XRP. He emphasized that the lawsuit dismissed class action claims and reaffirmed that XRP is not a security, as previously ruled by the NY Court.

This ruling further refutes allegations that Ripple violated federal securities laws by selling XRP, according to Garlinghouse.