XRP whales with between 1 million and 10 million XRP have been buying and the amount they hold has reached its highest level in two months
XRP Whales Holdings Reach 2 Months High
On-chain analytics company Santiment says that XRP whales with between 1 million and 10 million XRP have been on a buying spree as the amount of XRP they hold reaches its highest level in two months.
Santiment says that this group of whales is the most active group of non-exchange addresses and that they now hold 6.12% of “all XRP.”
According to data from CoinMarketCap, there are 48.3 billion XRP in circulation right now. There are 100 billion XRP in total.
Rise Or Fall?
Even though the lawsuit with the SEC is still going on, the market has sold off, and XRP has lost about 89 percent of its value from its all-time high.
As of press time, XRP was the sixth-largest cryptocurrency in the world by market cap, and it was worth $0.38. Since the beginning of 2022, trading has been choppy, so whales have been buying at a discount to build up their holdings and make more money.
Ripple, on the other hand, keeps being positive about the SEC case. As Brad Garlinghouse, the CEO of Ripple, hinted, the company might think about going public once its lawsuit with the U.S. Securities and Exchange Commission is over.
Ripple expects the lawsuit to end this year. It has been going on for about 15 months. After that, the Ripple boss said, the company will think about going public.
