XRP whales, US Securities and Exchange Commission (SEC) Ripple 
$0.525539 He moved a significant amount of XRP in line with the latest developments in his case. As it is known, the SEC appealed the decision against Judge Analisa Torres’ final decision in the case. The intra-chain activity following this development had a negative impact on the market price of XRP.
SEC Appeals Decision in Ripple Case
According to data from blockchain transaction tracker Whale Alert, there have been three XRP whale transactions in the last 24, moving over 153 million coins. Two of these transactions were transactions to cryptocurrency exchanges, while one transaction took place between unknown wallets.
The XRP price has fallen by about 1 percent in the last 24 hours due to the SEC appeal and whale activity. Currently, XRP is trading at $0.5267 and its daily low and high were $0.5101 and $0.5386 respectively. The transaction volume decreased by 33 percent on the last day, falling to 1.96 billion dollars.
Impact of Whale Movements
Interest in XRP futures markets has also decreased. Coinglass data shows XRP futures fell to $679.21 million, with open interest decreasing by 7 percent. A 42 percent decrease was observed in the derivative volume. “The SEC’s appeal represents a significant setback for the community and comes at the beginning of a new bull market,” said XRP supporter attorney Bill Morgan.
Morgan noted that there is still a high possibility that Ripple will file a counter-appeal. He also said the SEC has not yet filed a Form C with the Second Circuit, and that document would clarify what the regulator is appealing.
Market experts stated that the SEC’s appeal in the Ripple case creates uncertainty over the future of XRP. Investors are recommended to follow these developments closely and determine their strategies according to market movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
