XRP News: Whale Adding More XRP Amid Price Dump; Big Move Coming Ahead?

XRP News: Ripple's native crypto, XRP price is on a downtrend due to increased volatility in the crypto market. However, XRP price usually shows some movement in reaction to updates coming out from the U.S. SEC Vs Ripple lawsuit.

Timeline of Xrp

Investors are keeping a close eye on the price of XRP as the cryptocurrency industry waits for the outcome of the case brought forward by the United States Securities and Exchange Commission (SEC) against Ripple.

The United States Securities and Exchange Commission (SEC) is facing scrutiny for its recent lawsuit against Terraform Labs and its founder, Do Kwon. Court documents suggest that the regulatory body is treating Terra and Kwon with significantly less severity than Ripple, raising questions about the SEC's inconsistent approach to regulating the cryptocurrency industry.

The XRP price has fallen by 3% in the past 24 hours, dropping to $0.387535 amid a marketwide fall today. It has now increased by 1% in a week and dipped by a very slight 0.2% in the last 30 days, as the XRP community continues to wait for the conclusion of Ripple's long-running legal battle with the SEC.

Ripple has defined Central Bank Digital Currencies (CBDCs) as a key priority in its 2023 projections and goals, and already boasts notable collaborations with several countries. As Bitcoinist reported, in mid-January the fintech company landed the southeastern European country of Montenegro to pilot a digital stablecoin.

XRP News: Ripple's native crypto, XRP witness a significant increase in whale movement. However, crypto whales have been on an XRP accumulation spree since December 2022 as Ripple Vs the SEC lawsuit is edging closer to a judgment.

John Deaton, who founded CryptoLaw U.S., has taken to Twitter to tell the community that Brian Armstrong of Coinbase provided the only worthy response to the SEC threatening U.S. crypto exchanges, and Kraken in particular, for their staking products.

As the Ripple versus Securities and Exchange Commission (SEC) legal dispute inches closer to a summary judgment, the cryptocurrency industry eagerly awaits the outcome. The case has significant implications for how digital assets will be regulated in the United States, which has sparked intense interest and speculation.

The crypto space has been in a narrow range for the past few days, and the weekend also failed to generate the necessary bullish momentum. Along with Bitcoin, significant altcoins such as XRP, ADA, SOL, and others held for a while before plummeting dramatically at the start of the new weekly trade.

The chief executive of payments firm Ripple Labs says that the US badly needs leadership in crypto regulation. According to Brad Garlinghouse, the US is falling behind other nations when it comes to providing clear crypto guidelines for the industry.

John Deaton, an attorney, and proponent of XRP has joined yet another lawsuit against Ripple Labs, a San Francisco-based payments startup. Deaton has submitted a motion that will allow him to file an amicus brief in the California lawsuit Zakinov v. Ripple Labs.