- XRP’s price stagnates after SEC lawsuit settlement, leaving holders disappointed.
- Pro-XRP lawyer says no more excuses for XRP’s flat price.
- Whale Alert tracks massive XRP transfers, signaling potential market shifts.
Ripple’s long-running legal battle with the SEC was resolved in August, but XRP’s price remains stagnant. Following Ripple’s $125 million settlement with the SEC, many had anticipated a surge in the digital asset’s price.
However, despite the resolution of one of the most high-profile lawsuits in the cryptocurrency world, XRP’s price has failed to break free from its range-bound movement. Pro-XRP lawyer Bill Morgan has now stated that the community can no longer use the lawsuit as an excuse for XRP’s flat price.
Ripple made the settlement payment to the SEC on August 18, marking the end of the litigation that had loomed over the company for years. This payment was seen by many as a pivotal moment, with expectations that XRP would see growth once the legal cloud had been cleared.
Nonetheless, XRP’s price remains stuck, hovering between $2.80 and $3.00, with multiple failed attempts to push higher as per CoinMarketCap.
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New Focus: XRP’s Utility and Market Demand
With the lawsuit resolved, the focus now shifts to XRP’s real-world utility and its ability to attract institutional investment. Morgan emphasized that the token can no longer lean on the lawsuit as a reason for its lack of price movement. The demand for XRP and its use cases in the market are now the driving factors that will determine its future growth.
While Ripple continues to expand its partnerships and is hopeful about the potential approval of more ETFs, many traders remain cautious. Despite the legal resolution, XRP has failed to see the expected price movement, and some holders are beginning to question whether these efforts will lead to the anticipated breakout. XRP’s price action remains largely neutral, with no clear direction emerging at this stage.
Whale Alert: Major XRP Transfers Spark Market Interest
Amid XRP’s stagnant price action, two large transactions have recently been tracked by Whale Alert. The first transaction involved 135,549,782 XRP, valued at approximately $397 million, transferred from an unknown wallet to another unknown wallet. A second, larger transfer of 141,818,659 XRP, valued at about $415 million, also took place shortly after.
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