The ongoing legal battle between Ripple and the U.S. SEC has taken a dramatic turn, with a significant whale movement of 51 million XRP coins to centralized exchanges (CEXs). This development has sparked intense speculation about the future price trajectory of XRP.

Ripple Labs recently filed a reply letter in support of its motion to seal key documents related to the SEC's opposition. This legal maneuver has led to a flurry of activity in the XRP market, with a prominent whale, Rzn, offloading a substantial amount of XRP to Bitstamp and Bitso.

The whale's transactions, worth $26.78 million, have raised questions about the potential impact on XRP's price. The recent legal developments and increased supply pressure on exchanges have contributed to the asset's price volatility.

XRP's Price Fluctuations

As of writing, XRP's price has dropped 1.11% in the past 24 hours and is currently trading at $0.5236. The 24-hour lows and highs are $0.5201 and $0.5321, respectively.

Market data suggests that XRP futures open interest (OI) has dipped by 3.09%, while derivatives volume has surged by 15.52%. This uncertainty in the market sentiment is likely due to speculative trading. The relative strength index (RSI) is currently at 48.76, indicating neutral territory with slight downside pressure.

The legal uncertainty and market volatility have created a cloud of uncertainty around XRP's price movements. Despite this, some analysts have predicted that XRP could top $1 in the near future.