Bitcoin PriceBlockchainCoinbaseExchange Bitcoin

Preference For Ripple XRP Surges Among BSC Whales

There has been a long ongoing lawsuit between Ripple (XRP) and the United States Securities and Exchange Commission (SEC). Throughout the case, Ripple’s native token, XRP, has not seen any progressive growth. This stagnation in its price move has lingered even before the emergence of the extreme crypto winter.

But things seem to be taking a dramatic twist for XRP recently. With the ruling of the case, the price of XRP is positively waking. Also, the crypto coin is gradually becoming the leading choice for most BSC whales.

Related Reading | Bitcoin Funding Rate Turns Highly Positive, Long Squeeze In The Making?

XRP has shown more stability amid the collapse in the broader crypto space. It’s among the rare tokens that have not demonstrated a massive swing in value. Within 30 days, the XRP price has displayed a 1% marginal increase. This impressive trend is quite the opposite of the king of crypto Bitcoin. The price of BTC has dipped by almost 10% within the same period.

WhaleStats showed that XRP has suddenly risen as one of the most used smart contract tokens. It noted that this trend has persisted over the last 24 hours among the 1,000 and 500 BSC whales. Also, the record from the firm displayed that the top 2,000 huge investors on BSC hold large XRP tokens worth about $15.09 million.

Following the announcement of the long-running lawsuit between Ripple and SEC, the hike in the whale activities for XRP heightened.

Preference For Ripple XRP Surges Among BSC Whales
XRP trends upwards on the daily chart | Source: TradingView.com

Through Judge Netburn’s pronouncement, the court has denied SEC’s assertions over Himan’s ETH speech. Also, the commission received the court’s mandate to produce all relevant internal documents.

The court order stated that the commission is expected to submit the two proposed redactions to enable in-camera review by the court. Ripple’s attorney noted that the SEC could appeal the court’s decision to Judge Torres. Also, the SEC could demand up to one or two weeks as an extension for filing the objection.

Ripple XRP Gets More Listing of Pairs

In a new development, the Bitrue crypto exchange is offering its support to Ripple XRP tokens. According to the exchange’s statement, it would list up to 10 XRP pairs on its platform for customers. In addition, the exchange stated that its pair would be on crypto SAND, MANA, AAVE, BTTC, ALGO, AR, APE, CHZ, HBAR, and DENT.

Related Reading | Market Update: MATIC, UNI And AAVE Outperforms While Bitcoin Strugles To Hold Above $20k

Data from reporting source highlighted that XRP is currently trading at $0.35 at the time of writing. With a trading volume of about %1.11 billion. Ripple XRP still maintains its market cap, which is more than $15.22 billion.

Featured image from Pexels, charts from TradingView.com




Source link

Leave a Reply

Your email address will not be published.

Back to top button