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HomeRippleBinance Smart Chain Whales Prefer Ripple’s XRP: Analysis

Binance Smart Chain Whales Prefer Ripple’s XRP: Analysis

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The Binance Smart chain whales prefer Ripple’s XRP despite the ongoing lawsuit between the crypto project and the US SEC so let’s have a closer look at our latest Ripple news.

Ripple’s native token XRP hasn’t seen strong growth with the case still ongoing but the stagnation in price lingered before the emergence of the crypto winter. Things seemingly are taking a dramatic twist for xRP and with the ruling of the case, the price of the coin is waking positively. The crypto coin is becoming the leading choice for most of the Binance Smart Chain whales.  XRP showed more stability amid the collapse of the broader market and it is among the rare tokens which didn’t show a strong swing in value. In 30 days, the XRP price displayed a 1% marginal increase which is quite impressive compared to Bitcoin. The price of BTC dipped by 10% in the same time frame.

xrp trading volum
XRP’s trading volume (Source Santiment)

The data shows that XRP increased suddenly as one of the most used smart contract tokens and noted that the trend persisted in the past 24 hours among the 1000 and 500 BSC whales. The records from WhaleStats show that the top 2000 huge investors on BSC hold huge XRP tokens worth nearly $15 million. After the announcement of the long-running lawsuit between the SEC and ripple, the hike in whale activity for XRP increased.

Judge Neburn noted that the court denied SEC’s assertations over Himan’s ETH speech but the commission also received the court’s mandate to produce the relevant internal documents. The court order stated that the commission is expected to submit the two proposed redactions to enable an in-camera view of the court and Ripple’s attorney noted that the SEC will appeal the court’s decision to judge Torres. The SEC also demanded up to a week extension for filing the objection.

xrpusd
XRPUSD 12-hour chart (Source TradingView)

In the latest developments, the bitrue crypto exchange offered its support for XRP tokens and according to the exchange’s statement, it will list up to 10 XRP pairs on the platform for the customers. The exchange noted that the pair could be on cryptos like MANA, AAve, SAND, BTCC, ALGO, DENT, and CHZ. The data also shows that XRP is trading at $0.35 with a trading volume of about $1.11 billion and a market cap of $15.22 billion.

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