Ripple 
$0.551488 whales created selling pressure, causing a decline of approximately 2% in the XRP price today. According to the latest data, whales have recently sold more than 48 million tokens, raising concerns of additional sales in the market. This selling pressure came as the US SEC returned a last-minute objection in the Ripple case, further prolonging the long-running legal battle.
Ripple Whales Are Selling
According to the data, a Ripple whale sent 20 million XRP to Kraken via a designated address. This transaction was valued at approximately $10.98 million. Similarly, another whale sold 28.3 million tokens to the Bitso exchange, making a transaction worth $15.39 million. These massive sell-offs have increased uncertainty among XRP investors ahead of additional sell-offs.
The fact that the case was prolonged for at least 1 more year negatively affected the expectations for 2025. XRP Coin, which saw limited growth under the influence of the ongoing lawsuit in the last bull season, may not fully transition to the expected rise period again.
The US SEC’s latest filing in the Ripple case has damaged investors’ confidence. The SEC persisted in its objection by submitting the FORM C file against Ripple, which caused the litigation process to prolong. This development may put additional pressure on the XRP price.
The latest SEC filing has increased investors’ concerns over the XRP price. “The objection does not harm XRP’s status as a security or not, and this is a positive development,” said Ripple CLO Stuart Alderoty.
XRP Predictions
The XRP price was trading at $0.5446, down approximately 2% at the time of writing. While the trading volume dropped to $1.10 billion, the crypto reached a high of $0.5538 in 24 hours and fell to its current level. According to CoinGlass data, XRP Futures Open Interest is almost flat, indicating low investor interest.
In light of these developments, volatility is expected to continue in the XRP market. Investors are advised to be cautious due to the uncertainty of legal processes and the sales movements of big whales. Since the dynamics in the cryptocurrency market can change rapidly, it is important to follow current news.
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.
