XRP Whales Accumulate, Can Price Recover Now?

On-chain data shows the XRP whales have been sharply accumulating recently, something that can help the price recover. XRP Whales Have Continued To Expand Their Holdings Recently According to data from the on-chain analytics firm Santiment, the largest of the XRP investors have been buying in recent days.

Timeline of Xrp

The Ripple case has triggered a wave of change in the cryptocurrency industry and its regulatory landscape. Eleanor Terrett, a Journalist & Producer at Fox, recently highlighted the ongoing battle of jurisdiction between the SEC and the Commodity Futures Trading Commission (CFTC).

In a captivating twist that's causing ripples across the financial landscape, Linda Jones, a prominent Wall Street financial analyst and an advocate for XRP, has drawn striking parallels between the present state of XRP and the formative years of industry giants Microsoft and Apple.

XRP was caught up in a double tragedy last week as the crypto market bled profusely following the Federal Reserve minutes of the previous meeting and news that SpaceX had written down $377 million in Bitcoin. As investors generally reacted to these developments, the judge in the Ripple – SEC lawsuit, Analisa Torres granted the

XRP, the cryptocurrency associated with Ripple, faced a tumultuous ride in recent weeks as its price witnessed a significant downturn. However, an interesting turn of events has unfolded as the coin found solace at a crucial support trendline coinciding with the psychological level of $0.5.

So far in 2023, XRP has emerged as a top performer and a symbol of resilience. This report delves into XRP's impressive Year-to-Date (YTD) performance, juxtaposes it with other leading cryptoassets, and sheds light on the factors driving its bullish trend. As of 9:40 a.m.

The United States Securities and Exchange Commission (SEC) recently filed an interlocutory appeal following Judge Analisa Torres' ruling in favor of Ripple. However, an attorney and crypto enthusiast Greg Beuke believes the SEC made a mistake in appealing the decision.

In a noteworthy development, data from Santiment reveals that XRP is witnessing a modest but robust resurgence in its price trajectory. The recent surge of approximately 4% in XRP's value has been attributed to the concerted efforts of some of its most influential holders, colloquially referred to as "whales.

Pro-XRP attorney John Deaton has taken his time to reveal why former executives of the United States Securities and Exchange Commission (SEC) might have played unfairly when Ripple Labs Inc was sued back in December 2020. Taking to his official X account, Deaton called out the intricate relationship between former SEC Chairman Jay Clayton and top cop William Hinman with Joseph Lubin, Ethereum and ConsenSys co-founder.

Amidst a volatile crypto landscape, XRP has emerged as a beacon of resilience, outperforming market leaders like Bitcoin (BTC) and Ethereum (ETH). This notable recovery is underpinned by significant accumulation from large holders, commonly termed as “whales.” While the broader crypto market has been in turmoil, XRP has demonstrated a remarkable recovery.

Despite Ripple scoring a major win in the court case against the United States Securities and Exchange Commission (SEC) as Judge Analisa Torres ruled that its sales of the XRP token did not constitute securities sales, the blockchain company is still waiting for the final conclusion of the court battle.