XRP Whales and Sharks Hold Almost 30% of the Supply
Ripple and its native token XRP have made waves in the cryptocurrency industry once again. Following Ripple’s third consecutive court victory against the SEC, XRP experienced a price surge, reaching around $0.53 for the first time in two weeks.
Another contributing factor to XRP’s rise is the increased accumulation by large investors, known as whales and sharks. These investors, holding between 10,000 and 10 million tokens, now possess the highest level of XRP since July.
reported, those investors held less than 27% of the existing supply at the beginning of the month.
The Potential for New Highs
Analysts and experts have expressed bullish forecasts for XRP, predicting that it could reach a new all-time high in the near future. This optimism is further fueled by Ripple’s recent legal victory against the SEC.
Popular cryptocurrency analyst “KALEO” is optimistic about XRP’s future growth, anticipating a decisive victory in the ongoing legal battle. Additionally, AI-powered language model ChatGPT suggests that regulatory clarity will play a crucial role in boosting XRP’s value and potentially triggering a bull run.
If you’re curious about how XRP might perform in the last quarter of 2023, check out our dedicated video below:
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