• The Ripple Vs. SEC legal battle is creating tension for XRP as the court sittings could end this year.
• Crypto whales have continued to show more interest in XRP, with millions of tokens recently transferred by some whales.
• Notable transactions involving XRP tokens have included a transfer of 160 million XRP coins worth over $65.53 million, and 39,500,000 XRP tokens worth $16.2 million.
The Ripple Vs. SEC legal battle has been creating a lot of tension for the XRP token. The court sittings for the case could end this year, and the Ripple CEO has been optimistic that the lawsuit could come to an end in 2023. Despite the recent dips in XRP prices, crypto whales have continued to show more interest in the token. On-chain data provider Whale Alert reported multiple transactions involving XRP tokens recently made by some crypto whales.
The single largest transaction involving XRP tokens was a transfer of 160 million XRP coins between two unknown wallets on January 27. According to the current crypto market prices, the tokens are worth over $65.53 million. Another notable transaction was a transfer of 39,500,000 XRP from Bitso to an unknown wallet, occurring on January 26 and worth $16.2 million.
Other smaller transactions that occurred included a transfer of 30 million XRP coins worth $12.41 million from an unknown wallet to Bitso, and 33 million XRP tokens worth $13.65 million to Bitstamp from an anonymous wallet. These transactions demonstrate the continued interest in XRP tokens, even amidst the bearish crypto market and the legal battle with the SEC.
It remains to be seen how the Ripple Vs. SEC legal battle will pan out, and what effect it will have on the XRP token. However, these recent transactions show that there is still demand for XRP tokens, and the token might be able to weather the storm.