XRP has been at the forefront of crypto news for the past few weeks as Ripple’s lawsuit with the Securities and Exchange Commission (SEC) heats up. The increased attention has translated into more market movement, and the whales want to take advantage of this.
Whale Move to XRP
XRP trading volume saw a surge on Tuesday following a rally in the crypto market. This saw an increase in the price of digital assets but perhaps the most important thing for today is the fact that the Binance Smart Chain whale is actually more interested in the coin.
Whale tracking website WhaleStats reports that XRP has become the most traded token among the top 100 BSC whales for today. It dethroned AAVE which had previously dominated the attention of this great whale to achieve this achievement.
📰 LIVE: $XRP @Ripuh reverse $ GHOST for MOST TRADED tokens among the top 100 #BSC pope
Check out the top 100 whales here: https://t.co/0SYnjw0xQs
(and hodl $BBW to see data for the top 4000!)#XRP #GHOST #whalestate #babywhale #BBW pic.twitter.com/MhK4A1ATd3
– WhaleStats – list of 1000 richest BSC (@WhaleStatsBSC) January 10, 2023
Now, the increased interest from this whale has not died down because while XRP is not currently the most traded token, it is still a top 10 token for them. It features in the fourth point of the most purchased tokens for the largest BSC whale.
In addition, the XRP smart contract is one of the 10 most used smart contracts among the top 100 BSC whales.
Price sitting at $0.37 | Source: XRPUSD on TradingView.com
Jump Ahead of Crypto Market Profits
There are still residual market gains from Monday’s price surge in the crypto market and XRP is one of the tokens that have benefited. Now it is one of the top gainers over the last 24 hours, placing third in the list of Coinmarketcap gainers with a 4.34% increase in the last day.
XRP in the top five gainers | Source: Coinmarketcap
This price increase has now pushed the price of XRP above its 20-day moving average. Breakpoints into a short-term bull trend for digital assets, at least for the week. The most important thing now is for the digital asset to break the resistance at $0.037, because this will propel it above the 50-day moving average of $0.379. Once it is done, the rally above $0.4 will be locked in for the cryptocurrency.
An event that may prove volatile for the price of XRP is another hearing set for January 19 in the case of Ripple v. SEC. Both parties involved must file objections to the non-party motion by January 18.
As for the final verdict for the case, Ripple CEO Brad Garlinghouse and lawyer Stuart Alderoty both expect a decision from Judge Analisa Torres in the second quarter of 2023.