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Unprecedented Whale Movement Detected in XRP Amid Price Decline

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The viewpoints of XRP shared by our authors are personal and do not reflect U.Today’s perspectives. The financial and market details presented on U.Today are for informational use exclusively. U.Today is not accountable for any financial losses arising from cryptocurrency trading. Prior to making investment choices, seek advice from financial professionals and conduct independent research. While we strive for accuracy, some mentioned offers might have expired since the publication date.

Remarkable Whale Activity Detected in XRP Network

Santiment, a firm specializing in on-chain analytics, brings attention to extraordinary whale behavior within the XRP ecosystem. According to Santiment, XRP stands out among various assets experiencing heightened whale engagement, as these entities seek to leverage the lowered market prices.

Over the past 24 hours, XRP experienced a 2.16% decrease, reaching $0.585, aligning with the broader cryptocurrency market’s decline. Furthermore, the digital currency has witnessed a 7% decrease over the preceding seven-day period.

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XRP’s Price Trajectory After Non-Security Status: Significant Declines and Potential Whale Activity

After reaching peak levels of $0.947 following the pivotal July 13 decision classifying it as a non-security, XRP has encountered substantial drops. With a decline of almost 39% from this peak, the cryptocurrency touched a nadir of $0.574 during the previous session. Given the tendency for whales, prominent holders, to capitalize on price declines and acquire assets at reduced rates, a similar pattern could potentially emerge for XRP.

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Santiment notes a noticeable increase in whale engagement, potentially signaling the anticipated accumulation phase. XRP is adhering to its characteristic pattern, witnessing a surge in whale involvement at levels not observed for weeks. According to the chart shared by Santiment, within the past 24 hours, XRP encountered 22 instances of whale transactions surpassing $100,000, including a substantial transaction exceeding $1 million. This heightened level of activity mirrors the scenario witnessed in late July, coinciding with a notable rise in the number of XRP’s millionaire whales.

Santiment Reveals Surge in XRP Mega Addresses on July 23

As previously disclosed by Santiment, the count of XRP mega addresses, each containing more than 100 million XRP, experienced an unprecedented surge, reaching a total of 199 on July 23. This marked the highest quantity of such wallets since May 13, underscoring heightened investor intrigue coinciding with XRP’s ascent as a prominent trending subject throughout July.

Ripple Counters SEC’s Appeal Attempt in Ongoing Lawsuit Saga

Brad Garlinghouse and Chris Larsen of Ripple Counter SEC’s Appeal Request and Stay Motion. On August 9th, the U.S. Securities and Exchange Commission (SEC) submitted a letter detailing the rationale behind its intent to file a motion seeking permission to proceed with an interlocutory appeal. This appeal pertains to matters concerning programmatic offers and sales of XRP to buyers, encompassing transactions occurring across trading platforms and various distribution channels.

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Tomiwabold: Cryptocurrency Analyst and Accomplished Technical Expert

Tomiwabold, a proficient cryptocurrency analyst and seasoned technical expert, dedicates meticulous attention to cryptocurrency research. His expertise involves conducting thorough price analyses and formulating predictions for projected market trends. Tomiwabold holds a degree from the University of Lagos.

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