Ripple‘s victory in its lawsuit with the SEC has caught the attention of the cryptocurrency world, increasing the activity of XRP whales. Following the court decision, XRP whales have surged by 42% in the last 30 days, reaching an all-time high. Whale wallets now hold 7.06 billion XRP, equivalent to approximately 4.42 billion dollars.
Ripple’s Legal Victory Excites the Cryptocurrency Market
Judge Annalisa Torres of the U.S. District Court for the Southern District of New York ruled that Ripple‘s 1,278 institutional sales transactions violated securities laws, ordering the company to pay a $125 million fine. This decision marked the end of a years-long lawsuit and was considered a major victory for Ripple. Following this legal victory, XRP whales quickly moved to increase their holdings.
According to a report by Santiment, wallets holding 1 to 10 million XRP have reached a new peak. These large investor wallets now collectively hold 7.06 billion XRP. Wallets holding 1 million to 10 million XRP have added 662.4 million tokens since the beginning of August, marking a 10% increase.
Ripple Discussions Surge on Social Media
XRP, Ripple’s cryptocurrency, has also made a significant impact on social media. According to Santiment’s data, Ripple’s social media dominance has reached its highest level since January 2024. This trend clearly shows investors‘ interest and confidence in XRP.
According to WhaleAlert’s data, 83.3 million XRP (approximately 49 million dollars) were purchased in various transactions over the past 24 hours. The largest transaction involved the withdrawal of 60 million XRP (approximately 36.8 million dollars) from the Upbit exchange. These massive transfers highlight XRP’s market significance and the strategic moves of whales.
Is XRP’s Future Bright?
Ripple’s victory over the SEC has increased positive expectations for XRP’s future. The large purchases made by whales have boosted XRP’s market value and investor confidence. These developments indicate that XRP will hold a strong position in the cryptocurrency market.
Finally, it is worth noting that XRP’s price is at the same level as it was before the chaos on Monday. As of writing, XRP is trading at $0.61.
