XRP Price Surges 10% Following SEC Settlement and Whale Accumulation
XRP price increased by 10% to $2.4 following a settlement agreement with the SEC, with daily trading volumes rising 23% to over $5.5 billion. Analysts noted significant whale accumulation, indicating potential for further price increases.
Whale Activity
- Whales accumulated over 880 million XRP in one month.
- This reflects growing interest from large-scale investors.
Price Predictions
- Analyst Javon Marks compares current market structure with XRP's 2017 breakout.
- If historical patterns continue, XRP could exceed $123, representing a more than 50x increase from current levels.
Legal Developments
- The SEC and Ripple Labs are seeking to resolve their legal dispute.
- The SEC requested to dissolve an injunction against Ripple.
- The agency also seeks the release of a $125 million penalty held in escrow.
- A resolution could enhance prospects for XRP ETF approval by the SEC this year.