Mega XRP Whales Increase in Number at Rates Unseen for Many Months

The number of mega XRP whale wallets holding over 100 million XRP, equivalent to a staggering $74 million, has surged to an unprecedented 199, reports Santiment. According to data, this marks the highest number of such wallets since May 13, signifying a notable rise in investor interest and making XRP a top trending topic in July.

Timeline of Xrp

The U.S. Securities and Exchange Commission (SEC) is considering the possibility of appealing a recent ruling on the Ripple Labs lawsuit, which declared XRP as not being a security when sold to retail investors.

Ripple Vs SEC News: Judge Analisa Torres' summary judgment ruling in the US Securities and Exchange Commission v. Ripple Labs is considered a landmark decision by not only the crypto community but also by the legal community.

In a heated exchange on social media, Ripple Labs Inc's General Counsel, Stuart Alderoty, launched a scathing attack on the United States Securities and Exchange Commission (SEC) over its relentless efforts to crack down on the cryptocurrency ecosystem through what he perceives as a politically motivated “security war.

In a recent video, renowned crypto analyst “CoinsKid” recently shared his in-depth analysis on XRP. Here's a detailed breakdown of his insights. CoinsKid began by acknowledging the strong performance of XRP, which has met his target of 82 cents.

XRP attorney John Deaton robustly responded to critics of Judge Torres' recent ruling on the Securities and Exchange Commission's (SEC) case against Ripple in a series of tweets.

Mark Cuban, a Shark Tank star and owner of the NBA team Dallas Mavericks, has weighed in on the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP. “The current mission of the SEC is not to protect small investors,” the billionaire asserted. “Their goal is to litigate. And litigate more.

A lawyer has provided insights into the potential outcomes if the U.S. Securities and Exchange Commission (SEC) decides to appeal the Ripple ruling regarding XRP. Despite the securities regulator's indication to appeal the ruling, the lawyer emphasized that “There isn't an immediate right to an appeal.

Investor interest in Ripple's digital token XRP has soared, setting a new record since November 2021. As of July 20, the open interest for XRP futures contracts had reached a staggering $1.2 billion, according to data from CoinGlass.

For over a week, the XRP price resonated in a narrow sideways trend limited between two converging trendlines. This consolidation came after a massive rally on July 13th and was meant to stabilize the price trend and prolong the bullish trend.

In a stinging critique of SEC chairman Gary Gensler, Ripple's top lawyer Stuart Alderoty compared the chairman to a flat-earther for his perceived inability to understand that the token is not a security.