Crypto Whales Boost XRP Holdings to Over $8 Billion
In a turbulent week for the cryptocurrency market, XRP experienced a significant price decline, dropping to $0.51. Here are the key points to know:
1. XRP’s price decline comes amid a broader crypto market downturn, erasing earlier gains after Ripple’s legal victory against the SEC.
2. Crypto whales, who hold significant amounts of assets, took advantage of the price drop to increase their XRP holdings.
3. A total of 221 whale addresses hold between 10 million and 1 billion XRP tokens, totaling 16.13 billion tokens valued at $8.71 billion.
4. Despite the temporary surge caused by whale activity, XRP’s price remains at $0.52, down 0.16% in the past 24 hours.
5. XRP has experienced a monthly decline of over 33%, mainly due to regulatory uncertainty surrounding the SEC’s appeal of the June ruling.
In conclusion, XRP’s recent price decline has attracted crypto whales to increase their holdings, but regulatory uncertainty continues to impact the cryptocurrency’s value.
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