• XRP whales have begun accumulating assets after Ripple’s win in court against the SEC.
• There are now 199 XRP whales who own at least 100 million tokens, reaching an 11-week high.
• The victory has acted as a catalyst for the price of the digital asset, boosting it to as high as $0.95.
XRP Whales on the Rise Following Ripple’s Win v. the SEC
Court Victory Sparks Renewed Optimism
According to Santiment, XRP whales have started accumulating assets en masse ever since Ripple’s victory in court against the US Securities and Exchange Commission (SEC). The major win has acted as a catalyst for the price of the digital asset, boosting it to as high as $0.95 and renewing optimism in the entire cryptocurrency space.
11-Week High Reached
The number of XRP whales owning 100M+ tokens has surged to 199, marking an 11-week high. Calculated at current prices, this stash equals approximately $70 million. Prior to that (between April and July), investors were predominantly dumping their holdings.
Market Capitalization Rises Significantly
XRP’s market capitalization also skyrocketed, briefly surpassing that of BNB. As of now, though, Binance’s native token stands as the fourth biggest crypto asset while XRP is back in fifth position (per CoinGecko’s data).
The surge in whale activity coupled with Ripple’s court victory demonstrates just how powerful news can be when it comes to influencing cryptocurrency prices and sentiment across markets. With more news expected from both companies soon, there is likely to be further impact on both XRP and BNB prices going forward.