XRP, the native token for Ripple witnessed a fresh jolt of freshness in its price. At the time of writing, XRP saw a 1.5% surge as it traded above the $0.4 mark. Even though it wasn’t a significant surge, but could indeed help the cause. But what led to this?

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According to WhaleStats, the top 500 BSC whales are currently "hodling" XRP valued at $18,030,448. The XRP token wrapped on the BNB Chain (formerly known as BSC) has emerged as one of the top assets held by this group of whales.

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A brief technical and on-chain analysis on Ripple price. Here, FXStreet's analysts evaluate where XRP could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.

Former Ripple executive Matt Hamilton, who is currently Director of Developer Relations at Bittensor, sought to defend XRP by saying the asset will certainly hit $100 at some point after a user called it a scam, a worthless entry on a centralized database with no chance of reaching a $5 trillion market cap.

Recent data has shown that Jed McCaleb, the co-founder and formal CTO at Ripple, now has less than 100 million XRP in his wallet.

On Sunday (June 5), Matt Hamilton, who is currently Director of Developer Relations at Bittensor, said that he could envision the price of digital asset $XRP one day reaching $100. Between February 2021 and September 2021, Hamilton worked at Ripple as Director of Developer Relations, and between September 2021 and March 2022, he was the Californian FinTech firm’s Principal Developer Advocate.

Ripple co-founder Jed McCaleb has sold nearly 70 million XRP in the past two weeks, according to data from XRPscan shows.

Ripple’s native token, XRP hasn’t performed much in recent times due to its ongoing dispute with the US SEC. As the crucial lawsuit continues, Jed McCaleb, former CTO of Ripple has been selling its holding daily.

According to recent updates shared by defense lawyer James K. Filan, Ripple has scored a minor win in the ongoing lawsuit as the court denied the SEC's request to seal in entirety its opposition to the amicus request to participate in the Daubert challenge.

There are hopes for the price of Ripple XRP as the SEC lawsuit sees some major developments. The project has seen its price languish during the 2021 market rally and the recent bear market dragged Ripple lower once more. Ripple was testing $1.00 last year but now trades at only $0.30. Despite the recent positive sentiment over a potential win for Ripple, investors should consider the potential upside for the coin.

Brad Garlinghouse, CEO of Ripple, has affirmed a move outside the US if the payment giant loses the SEC vs. Ripple lawsuit. Ripple has been embroiled in a legal b...

As per a recent tweet by WhaleStats on-chain data tracker, XRP-BSC token has become popular among BSC whales, turning into the number one most purchased digital asset.

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UPDATE: Ripple continues to battle in court versus the US Securities & Exchange Commission in a case that continues to see lawyers from both sides make a succession of motions and objections without nearing a clear verdict yet. The latest development is the SEC objecting to Ripple Labs' claim to seal "Exhibit 0" on several documents deemed "sensitive and confidential." The court has yet to rule if emails sent and received by former SEC's official William Hinman can be used as evidence. A positive resolution on that front would be seen as a huge win by Ripple. While witnessing this seemingly endless judicial saga, XRP price is trying to find a bottom above the key $0.30 support. The price of the remittance token has been stuck in a range between the aforementioned support and an interim resistance at $0.35 over the past week, and despite the dismal current crypto market sentiment, the fact that XRP price action has been closely linked to the court battle – and less attached to other cryptos – could trigger a rally if Ripple sees good news on that front.

XRP/USD has come off of highs in the past day of trading, and the cryptocurrency also remains locked within a rather suspicious and seemingly nervous price range.

Earlier today, defense lawyer James K. Filan tweeted that the SEC filed a request to seal its response to the amici motion to participate in the Daubert challenge.

Ripple CTO David Schwartz, in response to tweets regarding the Solend liquidation crisis, believes that "decentralized systems are very democratic."

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