Large investors, known as "whales," have acquired 360 million Ripple (XRP), capitalizing on the current stagnation in its price. This coincided with intensified criticism directed at the United States Securities and Exchange Commission (SEC) from Ripple's leadership. The total investment in XRP amounted to approximately $223 million.

Experts suggest that such a surge in purchases could contribute to a rise in Ripple's price, potentially reducing market supply and leading to a price increase to $0.75 in the coming days. However, the token's price has not yet responded to the actions of these large investors, trading at around $0.616.

Since the beginning of 2023, Ripple has shown positive momentum with an 82% increase. Meanwhile, Stuart Alderoty, Ripple's Chief Legal Officer, revealed that the SEC had proposed a settlement before initiating legal proceedings in 2020, which Ripple declined. The company asserts that XRP is not a security and that the SEC lacks comprehensive frameworks for regulating cryptocurrencies.

Alderoty emphasized that Ripple's main goal in this case is to demonstrate that XRP does not fit the definition of a security. Ripple achieved a significant victory in its battle with the SEC over the classification of XRP when Judge Analisa Torres ruled that the sale of tokens to retail investors could not be considered an offering of unregistered securities.