Ripple 
$1 whales have caused approximately a 2% decline in the XRP price today, creating selling pressure in the market. Recent data indicates that whales have sold over 48 million tokens, raising additional concerns about further sales. This selling pressure coincides with the U.S. SEC‘s last-minute appeal in the Ripple case, which has prolonged the long-running legal battle.
Ripple Whales Are Selling
Data reveals that one Ripple whale sent 20 million XRP to Kraken through a designated address, valued at about $10.98 million. Similarly, another whale sold 28.3 million tokens to the Bitso exchange, executing a transaction worth $15.39 million. These significant sales have increased uncertainty regarding additional sales among XRP investors.
The potential for the case to prolong for at least another year has negatively impacted expectations for 2025. Given the ongoing effects of the case during the last bull season, XRP Coin may struggle to fully transition into a projected rising phase.
XRP Price Predictions
As of the time of writing, XRP was trading at around $0.5446, reflecting a roughly 2% decrease. The trading volume dropped to $1.10 billion, while the cryptocurrency reached a high of $0.5538 within 24 hours before retracting to its current level. According to CoinGlass data, XRP futures open positions remain nearly stable, indicating low investor interest.
In light of these developments, volatility in the XRP market is expected to persist. Investors are advised to exercise caution due to uncertainties in legal proceedings and the selling actions of large whales. It is crucial to keep up with current news as dynamics in the cryptocurrency market can change rapidly.
