- Ripple's victory against the SEC has boosted investor trust and notable market activity.
- Large investors have increased their XRP holdings by 42%, raising total assets to a record 7.06 billion coins worth about $4.42 billion.
- Post-lawsuit, XRP sees institutional interest, with record-high wallet holdings indicating a stable investment market.
XRP, Ripple's cryptocurrency, has raised its price value after a rule against the US Securities and Exchange Commission (SEC). This win indicates a new start for Ripple, raising investor trust and leading to a notable increase in large-scale transactions.
Large Investors Update XRP Holdings by 42%, Reaching Record 7.06 Billion Coins
Recently, wallets holding between 1 million and 10 million XRP tokens have updated their holdings. This has led to a 42% surge in whale holdings over the last month. As a result, the total value held in these substantial accounts has reached a new peak of 7.06 billion coins, estimated to be around $4.42 billion.
According to Santiment in X space, the market response has been positive, with XRP’s market cap adding by 23% in 24 hours. The surge in activity is not just limited to large investors; social media platforms are excited with discussions about XRP, reaching levels not seen since the beginning of the year. The interest is noted by WhaleAlert’s report, which pointed out that a crypto whale purchased 83.3 million XRP, worth roughly $49 million, in various transactions within a single day.
Institutional Investors Show Growing Confidence in XRP After Legal Clarity
The legal backdrop to this bullish market behaviour involves a recent ruling by U.S. District Judge Annalisa Torres of the Southern District of New York. Judge Torres found that Ripple's 1,278 institutional sale transactions violated securities laws, concluding the prolonged legal battle with the SEC by imposing a $125 million civil penalty on Ripple.
While mixed, this decision has clarified significant legal questions for Ripple and bolstered investor sentiment. Institutional interest in XRP has also spiked. Sentiment, a crypto analytics firm, reported that the number of wallets holding substantial amounts of XRP has reached new highs. This indicates growing confidence among institutional investors, who may view the post-lawsuit environment as more stable and predictable.
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