From the 100 billion total XRP supplies, the current total supply is 48.3 Billion. The XRP whales are currently holding between 1 and 10 million XRPs. They have been on an unprecedented hoarding spree, with an increase in supply reaching a peak of two months.
These active XRP Whales account for more than 6.12% of total XRP. Ripple Whales, despite the fall of crypto markets, have been active again.
According to Santiment, “XRP Network whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months.” This is the most active tier of non-exchange holders who are currently keeping 6.12% of all $XRP.
Recommended Reading | Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion
The Sixth largest crypto, XRP trades at $0.40
XRP, Ripple’s cryptocurrency, has adjusted more than 50% in the last two months, with the crypto market going on a downward spiral. The cryptocurrency is the 6th largest digital asset in terms of market capital and trades at $0.40.
Ripple CEO Brad Garlinghouse was present at the World Economic Forum, held in Davos Switzerland. He expressed interest in launching an initial public offer (IPO).
The plan’s all set once they have put the lid on the legal dispute with the U.S. Securities and Exchange Commission (SEC).
Ripple remains optimistic about their legal fight with the SEC. This battle has been ongoing for over 155 months. This lawsuit has been languishing for the longest time by the commission.
Ripple has been accused of selling securities that aren’t registered and XRP tokens, but they are firm with their stance in the courts. Industry experts are optimistic that everything will turn in Ripple’s favor.
Source: TradingView.com| Source: TradingView.com
Ripple Soldiers On
Ripple continues to thrive in international markets despite the difficulties of regulatory proceedings. XRP’s value has fallen by almost 90%, however it is still strong.
Quarter One of 2022 saw XRP cross border payments totaling $8 billion. This figure is eight times greater than the Q1 liquidity settlement of 2021.
By looking at the trading action performed since the beginning of 2022, it’s apparent that XRP whales have been amassing or hoarding XRPs by purchasing at a discounted price.
Recommended Reading: Ripple (XRP), Drops to $0.43 with Bears in Full Swing| Ripple (XRP) Plunges To $0.43 With Bears In Full Swing
According to an amicus request from XRP holders, the SEC advised the court they would file the opposition. The request was made to extend the time limit to June 7, in view of the upcoming holidays.
John Deaton (an attorney representing the XRP holders, founder of CryptoLaw) filed a request which was rejected by the commission.
More than 6 crypto holders received the award. amici status,This gives them the opportunity to support the court.
Featured image taken from The Daily Hodl. Chart from TradingView.com
