Whales Enter $180M Selling Spree after SEC Fined Ripple $2 billion for Misconduct
Welcome to Extreme Investor Network, where we provide you with the latest updates and insights into the world of trading, stocks, and Wall Street. Today, we dive into the recent $180M selling spree by whale investors in XRP following the SEC’s $2 billion fine on Ripple for misconduct.
XRP, backed by Ripple, has been in the spotlight due to ongoing legal battles with regulators, leading to intense price volatility. Our on-chain data trends analysis sheds light on the key bearish catalysts and the potential impact on XRP prices in the coming days.
In a recent announcement on March 25th, Ripple CEO, Brad Garlinghouse, revealed that the SEC is seeking to impose a hefty $1.95 billion fine on Ripple. This news came after the SEC won some of its claims regarding Ripple’s alleged illegal sale of securities through the direct sale of XRP to institutional investors.
The SEC’s official motion, filed under seal in a US District court on Friday, sparked speculation within the XRP community, with traders anticipating the potential repercussions of the fines. Despite the CEO’s reassurance that Ripple is prepared to pay the fines, on-chain data suggests a different sentiment among whale investors and corporate entities holding significant XRP holdings.
Our analysis reveals that whale investors and corporate entities holding at least 1 million XRP (equivalent to ~$580,000) have engaged in a selling spree, totaling $180M. The Santiment chart below provides a real-time tracking of whale investors’ wallet balances, offering insights into their current sentiment and trading activity.
As the situation unfolds, stay tuned to Extreme Investor Network for expert analysis and unique insights into the market trends and trading opportunities. Be sure to bookmark our site for exclusive content that sets us apart from the rest.
