© Reuters.
LONDON – Following a strong crypto market rally led by Bitcoin’s rise past $41,000, Ripple Labs has been part of a significant XRP trade, with Whale Alert tracking 24.2 million $14.9 million worth of XRP sent to Bitstamp exchange. This movement occurred over the past 24 hours, coinciding with a notable 4.45% increase in XRP’s value from $0.61269 to $0.63999 on Saturday.
The cryptocurrency market has been driven by regulatory expectations and market forces, including speculation about an upcoming Bitcoin spot ETF and the possibility of interest rate cuts by the Federal Reserve next year.
Ripple’s ongoing legal challenges with the SEC have not dampened investor interest in XRP. The community remains optimistic about a favorable resolution of the SEC vs Ripple Labs case, which could further strengthen XRP’s market position.
Additional support for XRP pricing comes from recent developments such as Zodia Custody’s entry into the Ripple-owned Metaco network for institutional-grade custodial services, supported by the Financial Conduct Authority. UK authority (FCA). This move is expected to strengthen investor confidence in XRP.
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