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While Ripple is looking forward to a win in its ongoing case against the US Securities and Exchange Commission (SEC), its native currency XRP is finding its recovery phase. The altcoin is just a few cents below hitting $0.40.
However, though XRP has experienced a remarkable performance, the currency’s massive spike depends on its win in the Ripple vs SEC case. Since June 14 the XRP price has been trading within its symmetrical triangle.
At the time of publication, XRP is selling at $0.39 with a surge of 1.72% in the last 24hrs.
Meanwhile, Crypto whales have been transferring millions of XRP tokens amidst the recovery phase. The WhaleAlert data claims that the Crypto whales have moved beyond 350 million XRP tokens in the last 24hrs. Among these, an unknown wallet has received 261 million XRP which is worth nearly $102.4 million and this happens to be done in one single transaction.
Furthermore, on the last day, the whales also bought 65.8 million XRP which amounts to nearly $26 million in multiple transactions. Among these accumulations, one single transaction has recorded a purchase of $13.6 million XRP. On the contrary, as per the reports, a few whale addresses have discarded around 62 million XRP from unknown wallets to different crypto exchanges.
On the other hand, another report has mentioned that XRP is now one of the highest-value token locks. This report comes from an escrow account which is a legal financial agreement where an asset or liability is held by a third party.