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As Ripple Case Nears Resolution, XRP Whales Ramp Up Accumulation
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a cause for concern in the cryptocurrency sector, particularly for Ripple’s native cryptocurrency, XRP. As the case approaches its final chapters, interesting trends have emerged, with XRP whales increasing their accumulation while new addresses show a decline in interest. Additionally, XRP’s network growth has been falling, accompanied by a decrease in development activity. In this article, we will delve into the recent developments surrounding Ripple, the XRP token, and the impact of the Ripple vs SEC case.
XRP Whales Show Significant Accumulation
Recent data from Santiment highlights the growing interest of XRP whales in accumulating the cryptocurrency. Over the past three weeks, these influential holders have made substantial purchases totaling more than 52 million XRP, equivalent to approximately $22.9 million. This surge in whale accumulation signifies a positive sentiment among large-scale investors, suggesting a belief in XRP’s future potential.
Falling Network Growth and Declining New Addresses
While XRP whales continue to accumulate, there has been a noticeable decline in network growth…
