Ripple whale moves 29 million XRP tokens to exchange during price drop

A Ripple whale is having a big sell-off. Data shows that this person moved 14 million XRP to Bitso for this purpose.

XRP is struggling to gain momentum during all the litigation. After Judge Analisa Torres' response to resume the appeal, several whales seem to be selling their bags. Ripple Labs has been at odds with the United States Securities Exchange Commission for years. The issue? Is Ripple a security or not? In any case, the whale is not letting up, moving the 29 million XRP, worth more than $15 million between the waiting.

Judge Analisa Torres' recent ruling in the case between the United States Securities Exchange Commission (SEC) and Ripple Labs, which held that XRP is not considered a security, has affected the market. This led to a significant drop in the price of XRP, breaking key support levels of $0.6 and $0.5.

In the meantime, the litigation between Ripple and the SEC is expected to take place in late April or mid-May. This timing is consistent with notification from both the SEC and Ripple Labs, along with CEO Brad Garlinghouse and Executive Chairman Chris Larsen, who indicated that they will not be available in the second quarter of 2024. In response, the price of XRP experienced a surge; however, the momentum was not maintained.

Curious about the exact price of Ripple right now? Then check out the Ripple price here.