XRP whales are selling!
XRP whales began to decline at an incredible rate after the Ripple -related litigation. In the statement made by Brad Garlinghouse yesterday morning, it was stated that the company would be sued by the SEC and that the SEC waged war on the crypto money industry. While the number of XRP whales decreased after this news was given, they saw the bottom with the news of the night.
Lawsuit Against XRP Ends Everything
The SEC said in a statement released last night that it will sue Ripple and its two executives for the sale of $ 1.2 billion in unlicensed securities. Stating that federal securities laws were violated, the SEC actually frightened the Ripple ecosystem with more than 70 pages of indictment.
According to the information provided by the crypto research firm Santiment, there is a significant decrease in the number of XRP whales. Stating that there are no major changes in small-scale XRP wallet addresses, Santiment underlined that there is an intense movement in whale addresses.
Ripple Whales Are Selling
The number of wallet addresses with more than 10 million XRP has been reduced by 18 wallet since the improvement was heard. The value of 10 million tokens dropped from $ 490,000 in the morning hours to $ 350,000 as of yesterday, and this actually shows why whales are selling heavy XRP.
In addition, it was determined that as of this morning, millions of dollars of XRP was sent to Ripple co-founder Jed McCaleb. It seems that both whales and Ripple executives have begun to abandon ship. The 33% drop in XRP price in the last 24 hours can be highlighted as evidence of the massive sales made.
XRP Delist Announcements Started
Although the Ripple CEO has stated that they will respond to the lawsuit and seek their legal rights, it seems that cryptocurrency exchanges are already starting to delve into XRP. At first, small exchanges like Beaxy reported delistional news. In the continuation of this, the sharing of delist news by crypto money exchanges such as Coinbase or Binance can bring the XRP value to zero.
Investors, on the other hand, have already accepted the loss and started to sell heavily in order to avoid this known end. XRP, which dropped from $ 3.30 to $ 0.11, has renewed its hopes of rising again in recent months, but the news of this lawsuit has definitely spoiled the dreams of investors.