Significant sales by Ripple whales have led to a 2% drop in XRP price. This, combined with the ongoing legal proceedings, creates market uncertainty.
Ripple Whales Are Selling
Data shows that one Ripple whale sent 20 million XRP to the Kraken exchange, valued at about $10.98 million. Another whale sold 28.3 million tokens to the Bitso exchange, making a transaction worth $15.39 million. These significant sales have increased uncertainty among XRP investors.
XRP Price Predictions
At the time of writing, XRP was trading at around $0.5446, reflecting a roughly 2% decrease. The trading volume fell to $1.10 billion, while the cryptocurrency reached a high of $0.5538 within the past 24 hours before retracting to its current level. According to CoinGlass data, XRP futures open positions remain nearly stable, indicating low investor interest.
Ripple Case Expectations
The potential for the case to prolong for at least another year negatively impacts expectations for XRP by 2025. Given the effects of the case during the last bull season, XRP may struggle to transition into a projected growth phase. Volatility in the XRP market is expected to persist, and investors are advised to exercise caution due to uncertainties in legal proceedings and selling actions by large whales.
Ripple whales' sales and ongoing legal battles significantly impact the XRP market, creating conditions for volatility and uncertainty among investors.
