As Ripple eagerly awaits a victory in its ongoing lawsuit against the United States Securities and Exchange Commission (SEC), its native currency XRP is finding its recovery phase. The altcoin is just pennies below $0.40.
However, although XRP has seen a remarkable performance, the currency’s massive spike hinges on its victory in the Ripple vs SEC case. Since June 14, XRP price has been trading within its symmetrical triangle.
At press time, XRP is selling at $0.39 with an increase of 1.72% in the last 24 hours.
Crypto Whale Transfers Huge XRP Tokens
Meanwhile, Crypto whales transferred millions of XRP tokens during the recovery phase. WhaleAlert data claims that Crypto whales exceeded 350 million XRP tokens in the last 24 hours. Of these, an unknown wallet received 261 million XRP, or almost $102.4 million, and this is done in a single transaction.
Moreover, on the last day, the whales also bought 65.8 million XRP, which represents almost $26 million in multiple transactions. Among these accumulations, a single transaction recorded a purchase of $13.6 million XRP. On the contrary, according to the reports, a few whale addresses rejected around 62 million XRP from unknown wallets to different crypto exchanges.
On the other hand, another report mentioned that XRP is now one of the highest valued token locks. This report comes from an escrow account which is a legal financial arrangement where an asset or a liability is held by a third party.
