There has been a long-running legal dispute between Ripple and the United States Securities and Exchange Commission (SEC). Throughout the process, Ripple’s native token, XRP, has not experienced progressive growth. This stagnation in its price movement has stopped even before the appearance of the extreme crypto winter.
But things seem to be taking a dramatic turn for XRP lately. With the verdict of the case, the price of XRP has grown positively. In addition, the coin is gradually becoming the first choice for most BSC whales.
XRP has shown itself to be more stable in the midst of the collapse in the broader crypto space. It is one of the few tokens that do not have massive fluctuations in value. Within 30 days, the XRP price has seen a marginal increase of 1%. This trend is the exact opposite of the crypto king Bitcoin. The price of BTC has dropped by almost 10% over the same period.
WhaleStats showed that XRP has suddenly risen to become one of the most widely used smart contract tokens. It found that this trend continued among the 1,000 and 500 BSC whales in the last 24 hours. The record also showed that the top 2,000 major investors on BSC hold large XRP tokens worth about $15.09 million.
After the announcement of the protracted litigation between Ripple and the US Securities and Exchange Commission SEC, the increase in Wal activities for XRP increased. Through Judge Netburn’s statement, the court rejected the SEC’s claims about Himan’s ETH speech. In addition, the commission received an order from the court to submit all relevant internal documents.
The court order states that the Commission should submit the two proposed redactions in order to allow a review by the court in private. Ripple’s lawyer pointed out that the SEC could appeal the court’s decision to Judge Torres. In addition, the SEC could require an extension of up to one or two weeks for filing the opposition.