XRP price continues to climb, Whales invest and cryptofans happy because of SBF’s conviction

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Last Updated on 7 November 2023 by CryptoTips.eu

Rumors are swirling that Ripple Labs has reached a settlement with the American stock market watchdog SEC. Normally a payment of 20 million would be enough to bring the matter to a successful conclusion. XRP, the coin of Ripple Labs, has therefore started an impressive increase of about 20% in the last seven days. Buying crypto whales in particular, as it turns out.

Classic media report Meanwhile, everyone in the crypto sphere already knows: no one is as happy that SBF has been convicted as fans of crypto themselves.

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XRP

Ripple has been stuck in a lawsuit against the American stock market watchdog SEC for years. It seems like it will finally end in 2023. Rumors claim that a payment of ‘just’ $20 million would be enough to settle out of court. It is uncertain whether XRP will return to pre-litigation values in that case, but investors already think it’s got a long way up still.

Crypto Whales in particular seem to think this is the likely outcome and purchase XRP in large volumes.

Elizabeth Holmes

Classic media has now realized what crypto fans have known for a while. The crypto industry is in fact very happy with Sam Bankman-Fried’s conviction.

The more criminals are convicted, the better the mood of crypto fans. If that is what is necessary to give crypto as a whole a better image, then so be it.

“The crypto industry as a whole will celebrate and call for a ‘back to business’ attitude in light of the verdict,” said Kurt Wuckert Jr., CoinGeek’s chief bitcoin historian explained.

Of course, SBF has made it harder for the crypto industry as a whole to regain credibility, as the fraud he will be convicted of organizing is among the biggest in US history. In terms of dollar amounts, he’s right up there with famous financial criminals like Bernie Madoff and Elizabeth Holmes.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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