CandleFocus

XRP Sees Spike in Whale Activity

XRP, the cryptocurrency affiliated with Ripple, has experienced an increase in whale activity, social media hype, and transaction volume. The recent filing for an XRP-based exchange-traded fund (ETF) by Bitwise was seen as a positive development for XRP's legitimacy, but did not result in significant gains for the token. Unfortunately, XRP suffered a blow when the SEC appealed the Ripple case, leading to a 15% drop in its value. Deribit's options traders have turned more bearish on XRP due to the ongoing legal battle with the SEC.

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