XRP: Despite SEC’s crumbling lawsuit against Ripple, investors aren’t impressed - Aliens: AI Crypto News & Markets Updates
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XRP: Despite SEC’s crumbling lawsuit against Ripple, investors aren’t impressed

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AMB Crypto

Sat, May 14, 2022

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XRP also recorded a massive sell-off with a 7.44% decline in price on 12 May. However, fortune smiled on this token as it made a complete recovery on 13 May. The token rallied up by 10% following the filing of Ripple’s reply to the Securities and Exchange Commission’s Attorney-Client Privilege claims concerning William Hinman’s speech and notes.

Standing at 3.2 billion at the time of writing, the transaction volume for the XRP token was up by 8% in the last 24 hours.

Furthermore, indicators on the XRP price chart suggested significant distribution of the token in the last 24 hours.

Despite the temporary uptrend in price, data from the chain showed no that the news of filing left no significant impact on the performance of the XRP token.

At 37.4k active addresses on the network at the time of writing, the token recorded an 11% decline from the 42,132 active addresses recorded on 13 May. Furthermore, the last 24 hours were marked with a decline in Whale Transaction Count for the token.

This decline suggested that despite the news of filing, the price of the token might have gone up.

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