• XRP has been struggling amidst the recent market downturn.
• Whale Alert reported that an anonymous wallet had sent over 15 million worth of XRP to the cryptocurrency exchange Bitstamp.
• Fred Rispoli, a well-regarded attorney, believes that forcing Ripple’s top executives into an arrangement was the primary goal of SEC lawsuit.
XRP Struggles Amid Market Downturn
The price of XRP is $0.5119, down 2.52% in the last 24 hours as per data from CMC. Both the trading volume and market cap are down by 2.22% and 4.54% respectively. The XRP token, which is embroiled in a protracted legal fight with the U.S SEC , has been struggling amid the recent market downturn. Trading volumes for XRP have returned to pre-July decision levels in the SEC lawsuit . Despite the positive verdict, XRP’s amazing surge after the judgment failed to meet its target of $1. After reaching $0.93 in July, XRP has been trending downward ever since. After a sharp decline last week, XRP briefly surged to $0.53 mark but it quickly lost short term gains soon after hitting this level.
Whale Dumps 15M Worth Of XRP
Whale Alert stated today that an anonymous wallet had sent over 15 million worth of XRP to the cryptocurrency exchange Bitstamp . This transaction indicates that the whale is unloading its stockpile, thus casting doubt on whether prices would drop soon.
SEC’s Primary Goal
Fred Rispoli , a well-regarded attorney, has been a leading voice who believes the trial will not go on . Rispoli’s reasoning provides a more complete picture of the stakes and explains why he thinks that there was more to decision to go after Garlinghouse and Larsen than just law . According to his assessment, forcing Ripple’s top executives into an arrangement was primary goal.
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