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- Whales have acquired more than 146M XRP, approximately valued at $77M through various transactions.
- XRP has risen by 2.65% in the past 24 hours according to CMC.
Anticipations of a favorable outcome in the lawsuit against the U.S. Securities and Exchange Commission (SEC) have enhanced the price of Ripple’s native token, XRP. As per WhaleAlert’s data, in the last 24 hours, whale addresses have amassed over 146 million XRP (approximately valued at $77 million) through multiple transactions.
The most significant accumulation transaction noted by the tracker was the acquisition of 50 million XRP from the cryptocurrency exchange Crypto.Com, which is estimated to be worth $26 million.
With the addition from Crypto.Com, CryptoWhale’s XRP holdings have increased by $51.4 million. Additionally, Crypto Whales purchased 23.4 million XRP from Binance, currently valued at around $12.1 million.
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Ongoing Bullish Momentum
The market price of XRP has surged by 43% over the past 30 days. This marks the second-highest growth rate among the top-10 tokens, surpassed only by Bitcoin (BTC).
While utilizing the euro as its unofficial currency, Montenegro’s Central Bank (CBCG) has revealed plans to collaborate with blockchain service provider Ripple on a pilot initiative for a central bank digital currency.
Ripple announced on Tuesday that the central bank will identify use cases for a CBDC and develop a prototype to simulate the cryptocurrency’s circulation.
The positive sentiment in the broader cryptocurrency market may also play a role in XRP’s potential price rise. The leading cryptocurrency, Bitcoin (BTC), has surpassed the $30,000 mark, a resistance level that has persisted since June 2022.
As reported by CMC, the current price of XRP is $0.518602 USD with a 24-hour trading volume of $1,272,829,575 USD. XRP has increased by 2.65% in the last 24 hours.
