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According to CoinGecko data, XRP is still growing at almost 60% per year, which seems to be largely challenging for a cross-border token. This may seem like a marginal increase over currencies like Bitcoin and Ethereum, which are up 147.4% and 550% this year. XRP is still in troubled waters.
Around the same time, in December 2020, the SEC filed a lawsuit against Ripple for raising more than $ 1.3 billion through an unregistered securities offering. Ripple is fighting the lawsuit, saying XRP should not be viewed as a security. Ripple CEO Brad Garlinghouse believes the case is likely to end in 2022.
As a result of this move against XRP by the SEC, it was delisted from the listings of cryptocurrency exchanges in the US, including Coinbase. Recently, Canadian cryptocurrency exchange Bitbuy announced that it is going to remove XRP, the eighth largest cryptocurrency by market capitalization, on January 13, 2022. While investors are hoping for a re-listing of XRP, are the whales worried?
XRP whales keep piling up
Since September, XRP whales have increased their holdings by nearly 6% and currently stands at 3.31 billion XRP, according to network analyst firm Santiment.
XRPNetwork currently costs around $ 0.81, but smart money whale millionaires have maintained their one-year upward trend in supply. Addresses with $ 1-10 million XRP contain $ 3.31 billion, including a 6% increase in their assets over the past 3 months.
XRP whales started piling up almost a year ago when XRP fell steadily to a low of around $ 0.16. This deadline also fell on the period when the SEC filed a lawsuit against Ripple.
XRP is currently down 2.17% on the day at the current price of $ 0.793.
#Ripple #XRP #Year #SEC #Drama
