WhaleStats data shows that Binance whales are holding large amounts of DOME, CAKE and XRP. But XRP hasn’t performed much lately due to its ongoing dispute with the US SEC. However, as the critical litigation continues, Ripple’s former CTO Jed McCaleb is selling his stake every day.
Binance whales collect XRP, but McCaleb continues to sell
Jed McCaleb has sold over 40 million XRPs in the last 10 days. The total amount of tokens sold is approximately $15 million. According to the data, the address markets an average of 4 million XRP daily. The largest transaction recorded by the follower occurred on June 26, 2022. The address has sold over 7.3 million XRP (about $2.6 million). Meanwhile, it has disposed of around 72 million XRP in the last 20 days. According to the data, McCaleb currently has around 103.53 million XRP in his wallet. Jed’s current balance and sales over time:
XRP is dumping but still in snow compared to last 7 days
Ripple’s price is rising with the latest announcements made by the firm. Its price has increased 14% in the last 7 days, now this rate is around 8%. XRP price continues to decline as McCaleb sells. At the time of writing, it has lost an average of 5% in the last 24 hours to $0.3513.
Finally, McCaleb stated that he will sell his XRPs with a good build program. Since then, a large amount of XRP has been in the market. With the same speed and strategy, there is a chance for sales to turn the XRP price upside down. But McCaleb may also stop selling his stock, as he did in 2021.
Binance whales collect XRP mid-sale
According to WhaleStats, the top 500 BSC whales are currently holding large amounts of XRP. Whale wallets have a total of 18.30 million XRP as Jed McCaleb continues to sell. Whales are actively accumulating amid the turbulent market seen since the beginning of 2022.
Last week, cryptocurrencies showed slight signs of recovery after falling rapidly. Meanwhile, the XRP price spiked as high as 16% on June 24. Behind the demand for the altcoin project lies partnerships with a number of key companies.
Singaporean regulator praises Ripple
Sopnendu Mohanty, chief fintech official of the Monetary Authority of Singapore (MAS), mentioned Ripple in a LinkedIn post. This time, Mohanty summed up his thoughts at the Point Zero Forum in Switzerland, praising the leadership of some of the biggest companies in the industry.
Updates on the Ripple SEC lawsuit
In recent updates shared by defense attorney James K. Filan, “Notice to File Official Transcript of June 7, 2022 conference has been submitted. On this date, Federal Judge Sarah Netburn held a face-to-face conference call to discuss the release of former SEC official William Hinman’s emails.
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