The behaviour of the price action of most cryptocurrencies has changed little in the last 24 hours, as confirmed by the 0.1% Bitcoin price at the time of writing, however, along with the behaviour of the price action, there are events that generate reactions, such as the substantial transfers that occurred in the XRP ecosystem.
Namely, "In the XRP ecosystem, there have been recent transfers of substantial amounts of XRP to Ripple escrow accounts. In particular, 300,000,000 XRP, worth approximately USD 146,927,854, and another 500,000,000 XRP, worth approximately USD 244,748,526"
According to Amaka Nwaokocha, these moves in the XRP ecosystem have sparked "speculation as Whale Alert reports significant XRP transfers" because, "The moves come amid the ongoing legal battle between Ripple and the US Securities and Exchange Commission".
Nwaokocha has indicated, "Ripple's legal team argued that the prerequisites for an interlocutory appeal were not met and urged the court to dismiss the appeal or impose a stay."
Among the reflections around these substantial transfers in the XRP ecosystem "While the path to a USD 1 price of XRP remains uncertain, events associated with the XRP ecosystem persist in impacting the price of the token and investor speculation"
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SOURCES CONSULTED
Cointelegraph. Whale Alert sparks speculation as XRP transfers surge. Link
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The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
