XRP Whales Dump Millions of Tokens as Market Uncertainty Stings

Ripple recently announced an emphatic triumph as the SEC dropped the years-long case against XRP. While a rally was expected for XRP right after, an interesting development has occurred.

In a surprising turn of events, XRP whales, known for holding over 1 million XRP tokens, have been steadily exiting their positions. This departure has left investors puzzled, especially considering the recent positive development of the SEC dropping its case against Ripple after years of litigation.

In a surprising turn of events, XRP whales, known for holding over 1 million XRP tokens, have been steadily exiting their positions. This departure has left investors puzzled, especially considering the recent positive development of the SEC dropping its case against Ripple after years of litigation.

The SEC case, which began in December 2020 with the regulatory body accusing Ripple of selling unregistered XRP securities, had a significant impact on the token’s performance. However, earlier this year in March, the SEC dropped all remaining claims against Ripple. This decision followed previous court rulings that largely went against the SEC, setting the stage for a decisive victory for Ripple.

Following this development, several reports focused on a potential XRP bull run due to the reduced threat of sanctions from the SEC. However, despite this anticipation, blockchain tracking services have shown that the number of wallets holding more than 1 million XRP has been steadily decreasing. This observation comes shortly after highlighting the rapid growth of XRP whales in 2023.

This departure of large investors, also known as whales, from XRP is unexpected, especially after the SEC case concluded and set the stage for a potential rally. However, this move by whales can be linked to several external developments that have affected investor confidence in recent weeks.

Among these is former U.S. President Donald Trump's announcement of reciprocal and additional sector-specific tariffs. Additionally, there is ongoing discussion about the Federal Reserve's stance on tariffs and interest rates, which is crucial for cryptocurrency markets.

Among these is former U.S. President Donald Trump's announcement of reciprocal and additional sector-specific tariffs. Additionally, there is ongoing discussion about the Federal Reserve's stance on tariffs and interest rates, which is crucial for cryptocurrency markets.

Furthermore, the European Central Bank (ECB) has made comments about how U.S. policies could contribute to a global financial catastrophe, a claim that has been disputed by the U.S.

In light of these conditions, it appears that XRP whales are diversifying their funds and preparing for potential market turbulence, which some are predicting in the form of an "incoming market storm."