The cryptocurrency market if filled with tons of animals; bears, bulls, rabbits, turtles, even dead cats, but none are more feared or reveared then the whales (massive crypto holders) – especially during such large events like this on going SEC lawsuit against Ripple. Everyone right now is in shock or disbelief of this SEC / Ripple lawsuit, but how about the whales, what are they doing or thinking? A whale can dump the market and pump the market as they see fit. The question is are they going to sell XRP on this news and trigger panic selling on a mass scale? Answer: No.
Here is a graphs showing some of the largest XRP holders (whales) have been and are continuing to increase their holdings:
I linked the article that provides details into this SEC lawsuit against Ripple above so I wont go into much detail here, but it’s worth noting that no one wants the SEC to be victorious in this silly charade, especially the XRP whales. This whole event has united the community on one common goal, which is to stamp out this ridiculous lawsuit. The best thing all of us can do is use our social media platforms to spread quality information and fight FUD (fear, uncertainty, a doubt) like you never have before. Get active in doing this, find no mercy on those who try and spread mis-information about Ripple and XRP. You have to interact with these FUD’sters with Spock logic and facts, not emotions – don’t get into internet slap fights, simply explain how they are wrong, share informative links to counter the FUD and move on. This is the way
Some XRP community members (including known whales) have already started fighting misinformation and showing support for Ripple and XRP:
This SEC lawsuit news broke yesterday afternoon and the price of XRP has not been effected as of this morning, but more time is necessary to determine what will happen next. In standard XRP style, I expect people to hold and not sell. We are all on cusp of one the largest bull market this industry have ever seen and no one is willing to lose their positions for that ride. This is simply just another futile attempt by the government to take what you have, don’t let them.