News - XRP whales increase their positions

By Sam Fröling

XRP whales increase their positions

Ripple (XRP)
Wallets and Whales
XRP whales, increase their positions

Ripple whales continue to expand their XRP wallets. Compared to last year, total volume has grown to US$7.9 billion.

XRP whale wallets continue to grow. This is stated by the market analysis platform Santiment in a tweet. According to this platform, the cumulative total volume of all major investors holding at least 100,000 XRP has grown to a total of $7.9 billion. This means that XRP whales now hold 10 percent more than last year. Overall, the investor group accounts for about 27 percent of the supply volume.

However, according to Santiment, the whales' activities have declined. According to the report, fewer transactions with an equivalent value of US$100,000 or more are being conducted than before. There were 4,000 of them.

Legal dispute still ongoing

This indicates a wait-and-see strategy on the part of major investors. At the same time, the U.S. Securities and Exchange Commission's (SEC) legal dispute against XRP developer Ripple Labs is still ongoing. In the lawsuit, Ripple managed to win an initial victory in July. The SEC then appealed. Now the case will be heard again in April next year.

Overall, XRP, the cryptocurrency of the Ripple network, is experiencing a bull run. The coin has risen nearly 50 percent in value since the beginning of the year.

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