It is reported that giant crypto investors (whales) are flocking to collect a number of Ripple (XRP) cryptocurrencies after the lawsuit between XRP and the United States Securities and Exchange Commission (SEC) is moving towards the Summary Judgment phase.
Whales have reportedly bought over 138 million XRP worth $52.1 million in the past 24 hours while $33.2 million of XRP was purchased from crypto exchange company Binance.
It is also worth noting that there were whales buying 50 XRP worth $18.84 million on Binance while the price of the digital asset decreased by 5% in the last 7 days.
Not only that, whales were also identified as transferring 32 million XRP at $12.4 million from the wallet to the crypto exchange Bitstamp and there was suspicious activity such as 4 billion XRP being transferred in several transactions through Bitstamp.
In the meantime, investors are increasingly positive about XRP after the founder of Cardano (ADA), Charles Hoskinson said that XRP will reach its end by December 15, 2022 after a long battle with the SEC.
But FoxBusiness reporter Eleanor Terrett refused to agree with Hoskinson's speculation as there was no certainty yet in confirming the XRP lawsuit could be settled at the following date.
As of this writing, XRP price is hovering in the 0.384 zone with trading volume jumping around 162% at $780.2 million in the last 24 hours while the market cap has plunged below $19 billion.
