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Whale Moves 51M Coins Amid Ripple’s Reply Letter to US SEC, What’s Next?

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11 months ago

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XRP Price: The Ripple vs the U.S. SEC legal tussle has once again taken an exciting turn, garnering substantial attention across the XRP crypto community. Ripple Labs has filed a ‘reply letter’ in support of its motion to seal key remedies-related documents following the U.S. SEC’s recent opposition to Ripple’s motion.

Amidst this legal development, a whale’s action has caused a significant stir in the crypto market. A renowned XRP whale was recorded shifting nearly 51 million XRP to CEXs, birthing speculations over the Ripple-backed asset’s future price trajectory.

Here’s a closer look at the recent legal developments and the ripple effect for XRP caused by this whale activity.

Whale Dumps 51M Coins Amid Ripple’s Reply Letter: Here’s Everything

Ripple Labs has made its stance clear in its May 29 filing to Judge Analisa Torres in the United States District Court of the Southern District of New York. It has primarily contested two of the U.S. SEC’s central arguments. Firstly, the SEC’s claim that Ripple’s current financial condition is ‘important to the Court’s determinations.’ Secondly, Ripple has refuted the SEC’s assertion that the information it provided is ‘stale,’ as the SEC proclaimed in its opposition filed earlier this month.

Intriguingly, in its filing, Ripple eluded disclosing its current financial condition, claiming that the firm never denied paying any potential amount of penalties that may be imposed, and otherwise, the financial condition data is of no relevance for the court’s analysis. Moreover, Ripple facilitated through the declaration of its CFO, Jonathan Bilich, that the terms of its contracts are confidential and future counterparties would gain leverage
from learning Ripple’s negotiated terms in past contracts.

XRP Lawsuit Ripple's replyXRP Lawsuit Ripple's reply

Meanwhile, as these legal developments unfolded, a renowned XRP whale, Rzn, offloaded 51.18 million XRP to Bitstamp and Bitso via a couple of transactions. The whale transferred 28.05 million XRP, worth $14.67 million, to Bitstamp. In another transaction, it shifted 23.13 million XRP, worth $12.11 million, to Bitso.

Simultaneously, amid legal uncertainty and increased supply pressure on exchanges, XRP traded with quite turbulence.

Also Read: Shiba Inu’s Shibarium Attains Major Milestone, Cuts Ethereum Bridge Time

XRP Price Fluxes

As of writing, XRP’s price has dropped 1.11% in the past 24 hours and is currently trading at $0.5236. Its 24-hour lows and highs are $0.5201 and $0.5321, respectively.

Coinglass data shows that XRP futures OI saw a 3.09% dip, whereas the derivatives volume spiked 15.52%. This further underscored an uncertain sentiment for the ripple-backed digital asset prevalent in the market, potentially due to speculative trading.

Besides, the RSI surfaced at around 48.76, hinting at neutral territory with slight downside pressure. Collectively, market data coupled with regulatory uncertainty have shrouded XRP’s price movements in a cloud of conundrum.

Nonetheless, it is worth mentioning that well-known crypto analysts have foreseen the Ripple-backed asset topping $1 shortly.

Also Read: This Cohort Accumulated 154,560 Bitcoins In Five Months, BTC Price Surge Ahead?

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will Cardano Price Break Out Soon? Triangle Pattern Hints at 27% ADA Surge

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48 minutes ago

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April 21, 2025

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Cardano price appears to be inching towards a key breakpoint as it continues to consolidate within a symmetrical triangle pattern visible on its price chart. According to cryptocurrency analyst Ali, this formation could help ADA in a major price movement.

Cardano price predicted to surge 27%

In a recent tweet, Ali suggested that Cardano might be in the early stages of breaking out from this consolidation pattern. The symmetrical triangle visible on the price chart shows converging trendlines that have contained ADA’s price movement since early April 2025.

The symmetrical triangle pattern forming on Cardano’s chart is a period of consolidation where buyers and sellers reach a temporary equilibrium. According to technical analysis principles, symmetrical triangles often serve as continuation patterns, with the breakout direction typically following the prior trend.

In Cardano’s case, the breakout yields the potential 27% price movement mentioned by Ali. The analyst has pointed out that Cardano might be in the early stages of breaking out from this pattern. The analysis by Ali comes as Cardano bulls secure the most important signal to drive a price rally.

Cardano is currently trading at $0.6424 with a 4.3% increase over the past 24 hours. Despite this short-term gain, ADA remains down nearly 10% over the past 30 days.

ADA sentiment remains neutral

Current market sentiment surrounding Cardano is mixed despite the potentially bullish technical setup. According to data from CoinCodex, the overall sentiment toward ADA is currently classified as “Neutral.” However, the Fear & Greed Index shows a reading of 39 and places it in the “Fear” category.

Looking ahead, CoinCodex projects that Cardano’s price could rise by 18.55% to reach $0.765833 by May 21, 2025. While this forecast falls short of the full 27% move suggested by the triangle pattern analysis, it aligns with the general direction and timeframe for a potential upside breakout.

The platform’s analysis of Cardano’s recent performance shows that ADA recorded 14 green days out of the last 30, which is a 47% positive day ratio. Price volatility over this period also stood 7.31%.

Despite the current “Fear” reading and mixed sentiment indicators, CoinCodex concludes that it’s now a good time to buy Cardano based on their technical indicators. However, the next move by ADA could very well be based on the overall market conditions too.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Expert Reveals Why BlackRock Hasn’t Pushed for an XRP ETF

Published

6 hours ago

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April 21, 2025

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With Ripple’s XRP lawsuit settlement finally in place, the crypto community is abuzz with anticipation over a possible XRP ETF launch. Despite the growing frenzy over XRP exchange-traded funds, the world’s largest asset management company, BlackRock, remains silent, sparking significant attention.

Detailing BlackRock’s vision and possible reasons behind its silence, expert All Things XRP shared a series of X posts. Let’s explore the expert’s threads, reading through the key points that shed light on BlackRock’s strategic approach to crypto investments.

Why Is BlackRock Silent on XRP ETF?

In a series of X posts, expert All Things XRP shed light on BlackRock’s strategic moves that steer them away from an XRP ETF. According to the expert, BlackRock’s hesitation to launch an XRP exchange-traded fund is driven by many factors regulatory concerns, market dynamics, and strategic considerations.

BlackRock Focuses on Bitcoin and Ethereum

Notably, the asset manager’s focus on Bitcoin and Ethereum ETFs is one of the main reasons to shy away from XRP. BlackRock is currently riding the wave of success with Bitcoin and Ethereum.

Reportedly, iShares Bitcoin Trust boasts over $30 billion in Assets Under Management (AUM). In addition, BlackRock’s ETH ETF has reached $1 billion in AUM in just two months. In light of this success, the platform is cautious about exploring other altcoins to mitigate potential risks.

Moreover, XRP may not meet BlackRock’s internal thresholds for demand, liquidity, and legal clarity. According to the company’s ETF executives, only Bitcoin and Ethereum currently meet these requirements.

Regulatory Concerns

As noted by the expert, regulatory concerns play a major role in BlackRock’s hesitation to back Ripple. Although both Ripple and the SEC dropped their appeals in the XRP lawsuit, the case is not officially over, with the label of “security” still lingering around.  This uncertainty may deter the investment giant from applying for an XRP ETF.

Recently, All Things XRP shared insights on CEO Brad Garlinghouse’s crucial role in Ripple’s growth.

BlackRock’s Strategic Wait-and-See Approach

Interestingly, BlackRock is adopting a cautious approach, waiting for competitors like Grayscale and Franklin Templeton to launch their XRP ETFs. While these platforms will face the possible regulatory hurdles first, it will pave the way for BlackRock’s easy entry into the ETF space. This approach will also allow BlackRock to gauge institutional appetite for XRP products and assess the risk landscape.

Whoever takes the lead, an XRP ETF launch is poised for a significant price surge in the Ripple coin.

In addition, the asset manager’s fake XRP ETF filing in 2023 has further strengthened their cautious stance. Previously, the filing went viral and sparked ambiguity within the crypto market. The investment firm had to publicly deny involvement, potentially damaging their reputation. This incident might have made them cautious about pursuing an XRP ETF, at least for now, as they may want to avoid similar PR issues.

Will BlackRock Launch an XRP ETF?

Additional factors like lack of demand and XRP’s relatively small market share have also contributed to the asset manager’s decision. However, BlackRock is expected to push for an XRP ETF in the future after tackling all the possible hurdles.

BlackRock is known for launching products at the right moment, when the odds are in their favor. The strategic move is expected when XRP meets complete regulatory clarity and market stability. As per All Things XRP, BlackRock is envisioning dominating the market. The expert cited, “But if and when they do, it’ll be to dominate the space — not just participate.”

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Expert Says Solana Price To $2,000 Is Within Reach, Here’s How

Published

11 hours ago

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April 21, 2025

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While investors are scanning the horizon for a short-term Solana (SOL) rally, cryptocurrency expert CryptoCurb is predicting an ultra-bullish price movement. CryptoCurb argues that a Solana price of $2,000 is “absolutely realistic” given the current fundamentals and on-chain indicators.

Solana Price To $2,000 Is A Realistic Projection

Pseudonymous cryptocurrency analyst CryptoCurb is predicting a massive growth spurt for Solana in the near future. In an X post, the expert says the Solana price can achieve a valuation of $2,000 given its impressive network metrics.

He hinges his projection on several factors, including Ethereum’s previous price performance. Ethereum price spiked to a $600 billion market capitalization during the last cycle with its steep fees and scalability issues.

A $2K SOL price will translate to a $1 trillion market capitalization that will see it flip Ethereum as the largest altcoin. CryptoCurb notes that if Ethereum can post impressive figures during the last cycle, Solana has the capabilities to be valued at $2,000.

“2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale,” said CryptoCurb.

Rising network inflows are expected to send the Solana price on a short-term rally to $150 before a big push to $2K. Currently, the Solana price is pegged at $140 with a market capitalization of $72.6 billion, making CryptoCurb’s prediction an uphill climb.

A Wave Of Impressive Metrics Around SOL

While CryptoCurb did not disclose an exact timeline for his $2,000 prediction, he points to a short-term seismic price increase. The expert his backing his predictions with a swathe of network metrics pointing to fresh bullishness.

Solana has the highest number of active addresses over the last seven days at 28.4 million. The network led the pack for transactions at 369 million, trouncing Tron, BNB Chain, Base, and Bitcoin.

Solana is finding application in several Web 3 verticals given its speed, low cost, and scalability. In the last week, the Solana price has risen by nearly 7% while 24-hour trade volume has risen by 36%.

Last week, Canada launched the first SOL ETF with prices projected to surpass $250, reversing a forming death cross. Solana open interest crossed 5.5 billion, climbing by 10% amid rising whale activity in the ecosystem.

Rising bullish metrics for the network suggest that SOL will reach $200 before ETH reclaims $3,000.

 

 

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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