Whale Alert says that another 150 million XRP has been moved from Ripple to an unknown wallet. After a few XRP transactions in the millions, there’s been a lot of talk about whether institutions are getting involved.
Just to flag, there was a noticeable increase in Ripple (XRP) transactions on crypto exchanges on 8 July. Just one transaction saw an entity withdraw over 10 million tokens, worth over USD 4.2 million.
A new article by Crypto Magazine looks at whether the XRP price will reach $1 in July 2023. The article also looks at the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC). The report says that the outcome of this battle could have a big impact on the price of the token. The uncertainty around this case has led to some big swings in the price, but if Ripple wins, it could mean a price increase.
The SEC has lost another court case, with the Court of Appeals for the Fifth Circuit ruling against the agency in its legal battle with the National Association of Manufacturers. Gary Gensler was in charge of the SEC when they tried to suspend a 2020 rule that targeted proxy advisory firms. The court said this was a breach of federal regulatory guidelines.
There's been a lot more whale activity recently, which has led to the expectation that the XRP price will reach two dollars. The growing number of XRP whales thanks to Ripple's escrow system is having an impact on the market.
On 25 June, Ripple CEO Brad Garlinghouse criticised the views and actions of US Securities and Exchange Commission (SEC) Chairman Gary Gensler regarding the crypto industry. He suggested that this could have a negative impact on President Biden's re-election bid in November.
In recent years, many large companies have decided to invest in cryptocurrencies, significantly increasing the trust and acceptance of these digital assets. This development signals a major shift in the financial world, and highlights the growing interest in blockchain technology and its potential benefits.
Ripple is a technology company focused on digital payments and cryptocurrency, best known for its cryptocurrency, XRP, and its real-time gross settlement system, RippleNet. Here's an overview of the key aspects of Ripple's history:
