A wave of optimism has surged in the cryptocurrency market as Ripple whales amass $180 million worth of tokens amid a bullish XRP market. Legal advances boost the asset.
Rising Optimism in the Crypto Market
Recent legal progress by Ripple Labs has led to a strong accumulation trend by major investors. These events have helped XRP solidify its position as the third-largest cryptocurrency by market capitalization.
Major Transactions by Ripple Whales
According to Whale Alert data, significant XRP transactions occurred on December 2. A prominent wallet 'r32…yLn' purchased 50 million coins from Upbit, valued at $116.50 million. Another wallet 'rfQ…Cvi' acquired 25.08 million tokens from Binance worth $61.08 million.
Investor Optimism and Legal Progress
These purchases have sparked market interest in XRP. Ripple Labs is seeking a complete termination of the SEC case. Attorneys Bill Morgan, Fred Rispoli, and Jeremy Hogan suggest a possible resolution of the appeal.
The recent large movements by Ripple whales and positive legal news have rejuvenated market optimism. XRP has shown significant growth, strengthening its market position.
