• XRP price has become largely dormant in recent times as bearish and bullish market conditions struggle for control.
• Ripple vs SEC case has been a top-rated event since its inception in December 2020, with some predicting deflated prices.
• XRP whales sense the upcoming trend and have initiated a huge transfer which is believed to be connected to the settlement of the lawsuit in 2023.
As the year draws to a close, the crypto market is gearing up for a volatile session. One of the much-anticipated events is the Summary Judgement in the ongoing Ripple vs SEC case. The lawsuit is one of the most talked-about topics in the crypto space since it began back in December 2020.
XRP, the native token of Ripple, has been largely dormant in recent times as neither the bears nor the bulls could dominate the market. With the Summary Judgement just around the corner, the XRP whales are beginning to take action. A huge transfer of XRP tokens was recently recorded, which is believed to be connected to the settlement of the lawsuit in 2023.
The lawsuit, which has been brought against Ripple by the U.S. Securities and Exchange Commission (SEC), alleges that Ripple has violated securities laws by selling XRP tokens. The SEC has alleged that Ripple raised $1.3 billion in unregistered securities offerings. Ripple has denied these allegations and has repeatedly argued that XRP is a digital currency and not a security.
The market participants are divided in their opinion about the outcome of the lawsuit and its impact on XRP price. Some believe that the prices could deflate soon to mark new lows. On the other hand, XRP whales sense the upcoming trend and have initiated a huge transfer.
The transfer, which is believed to be connected to the settlement of the lawsuit in 2023, is seen as a positive sign by the XRPArmy. The XRPArmy is a group of XRP investors and traders who are confident that the lawsuit will be settled in 2023.
The transfer is seen as a positive sign by the XRPArmy, as it indicates that XRP whales are confident in the future of Ripple and XRP. This could lead to increased demand for XRP tokens, which would lead to a price increase.
The outcome of the lawsuit is eagerly awaited by market participants, as it could have a significant impact on the price of XRP. The settlement of the lawsuit in 2023 could lead to increased demand for XRP tokens and a subsequent price increase. On the other hand, if the lawsuit is not settled in 2023, it could lead to a significant price drop.
The crypto market is extremely volatile and unpredictable, and predicting the outcome of the Ripple vs SEC case is impossible. However, with XRP whales becoming increasingly active in anticipation of the outcome of the lawsuit, it is likely that the market will experience increased volatility in the near future. Whether or not this will lead to a price increase for XRP remains to be seen.