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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