{"id":21740,"date":"2024-08-09T12:05:51","date_gmt":"2024-08-09T12:05:51","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=21740"},"modified":"2026-07-14T15:50:30","modified_gmt":"2026-07-14T15:50:30","slug":"xrp-whale-holdings-hit-all-time-high-amid-ripple-v-sec-lawsuit-update","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/xrp-whale-holdings-hit-all-time-high-amid-ripple-v-sec-lawsuit-update\/","title":{"rendered":"XRP Whale Holdings Hit All-Time High Amid Ripple v SEC Lawsuit Update"},"content":{"rendered":"

XRP wallets with 1M-10M coins currently hold over 7 billion of the crypto asset, signaling strong whale activity.<\/strong><\/em><\/p>\n

XRP has decoupled from the broader crypto market, outperforming all top assets in terms of daily gains. While the rest of the market struggles, XRP experienced a sharp price increase of nearly 20% in the past day, reaching $0.64 on Thursday before slightly retracing to $0.61.<\/p>\n

As a result of the continued uptrend, XRP has managed to post an impressive 42% in monthly gains. This bullish trend is backed by a certain group of whale wallets that have accumulated a significant stash of tokens, thereby clinching a new record.<\/p>\n

XRP\u2019s Bullish Signs<\/h2>\n

XRP\u2019s market cap soared by 23% within the past 24 hours. According to Santiment\u2019s latest findings, this rapid growth has coincided with a notable accumulation by whales, as wallets holding between 1 million to 10 million tokens on the XRP Ledger now collectively possess an all-time high of 7.06 billion coins worth approximately $4.42 billion.<\/p>\n

This cohort of whale entities accumulated more than 662 million XRP in August alone, indicating rising confidence in the asset.\u00a0Additionally, XRP has witnessed a dramatic rise in social media discussions, reaching their highest levels since January 30th.<\/p>\n

The increased market cap, coupled with whale accumulation and heightened social activity, suggests growing investor interest and speculation around XRP\u2019s future price trajectory.<\/p>\n

Meanwhile, the subsequent price surge caught future traders off guard, as evidenced by the liquidation of $7 million worth of short positions in XRP over the past 24 hours, according to CoinGlass data.<\/p>\n

Ripple vs. SEC<\/h2>\n

The renewed positive sentiment comes after a\u00a0New York federal judge has advanced toward concluding a three-year securities lawsuit against Ripple Labs, which executives are celebrating as a major \u201cvictory\u201d for the industry.<\/p>\n

On August 7, the judge imposed a $125 million civil penalty on the blockchain firm and issued a permanent injunction preventing the firm from violating US securities laws, signaling a crucial development in the case initiated by the Securities and Exchange Commission (SEC).<\/p>\n

This ruling suggests that the lengthy legal dispute, which started in December 2020, is nearing its end, boosting confidence among XRP investors.<\/p>\n

Source: www.cryptopotato.com<\/p>\n

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