The Ripple XRP Whales have been active, pumping trading volumes ahead of SEC’s filing on Monday. Trading volume has increased 121.26% since the last day, despite the fact that the asset’s price fell by 6 percent in the past week. A positive outcome from the expected Monday filing, coupled with increased whale activity, could signal a rally in XRP for the next week.
By the time this article was published, XRP had fallen to just $0.5154. In part, the SEC’s ongoing case was to blame for April being a tough month. Due to the Bitcoin Halving, holders were hopeful that the market would surge and boost both the tokens as well as all cryptocurrencies. However, this did not happen.
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XRP has experienced high whale activity in the past. According to the on-chain data tracking platform, Whale AlertBinance reported that whales purchased more than 75 million XRP over the weekend. Investors are increasingly confident in Ripple’s native currency.
The SEC’s filing is due on Monday, and the confidence that Ripple XRP has in it remains high. Today is the deadline set by Judge Sarah Netburn for the SEC’s reply to the legal dispute that Ripple has been involved in. The SEC’s response follows Ripple’s motion to dismiss the SEC’s expert submissions aimed at strengthening its case.
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Source: watcher.guru
