XRP whales have been on aggressive buying spree
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According to on-chain data, the XRP price rally was aided by increased levels of accumulation from whales and sharks with 100,000 XRP coins, with a notable turning point in supply accumulation beginning in August. Santiment noted that holdings of XRP wallets with over 100,000 tokens reached a new high, representing 85% of the total supply.
Following a drop to a low of $0.54 on July 19 and a subsequent rebound, XRP surged for four days in a row before facing profit-taking. At the time of writing, XRP was 0.10% in the last 24 hours to $0.6011, mirroring the lackluster trading on the market.Brad Garlinghouse indicated in a recent Bloomberg Television interview about potential settlement talks with the Securities and Exchange Commission:"We expect resolution very soon, but can't predict when the judge will rule there.
Helping to further fuel speculation in the crypto community on social media was the listing on the SEC's website of a"closed meeting" scheduled for July 25.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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