The legal battle between Ripple and the SEC has created a lot of tension among XRP investors. But that tension seems to finally be coming to an end this year and that could be a good or bad sign. In any case, Ripple’s CEO is optimistic that the lawsuit could end in early 2023.
Despite the fairly stable XRP price, the crypto whales continue to show massive interest in the coin. The well-known twitter account Whale Alert reported that millions of XRP tokens have recently been moved by some crypto whales. For example, the day before yesterday, a single transaction of no less than 160 million XRP tokens was sent. These tokens were worth $65.53 million.
Whale Alert also recorded a transfer of 39,500,000 XRP from Bitso to an unknown wallet. The transaction took place on January 26 when the tokens were worth $16.2 million. Another noteworthy transaction is a transfer of 30 million XRP worth $2.41 million from an unknown wallet to Bitso. In addition, another whale moved 33 million XRP worth $13.65 million to Bitstamp from an anonymous wallet.
Possible price hike for XRP
The XRP token is enjoying more and more attention. Of course, this is because the lawsuit between the SEC and Ripple Labs seems to finally be coming to an end.
XRP has held up quite well in the crypto market despite the legal battle. Data from CoinMarketCap shows that XRP ranks 6th by market capitalization, currently at $20.72 billion.
The fact that XRP is holding up quite well is because investors hope for a good outcome of the lawsuit. If Ripple manages to win, it can result in a huge price increase.