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Ripple (XRP): Whales are increasing their stocks

 


Ripple (XRP) worth tens of millions of US dollars are currently in motion at leading crypto exchanges. Apparently, large investors are deliberately stocking up on XRP.

Ripple (XRP) is again showing itself to be a surprise bag before Christmas: This week alone, services such as Whale Alert repeatedly reported conspicuously large transactions for XRP, with almost 50 million XRP worth around 40 million US dollars flowing into three from the Binance crypto exchange alone Tranches for the Korean crypto exchange Gopax. Similar movements with XRP were also observed with the providers Bithumb and HitBTC. These promotions did not noticeably influence the price of XRP. But the analysts at Santiment are certain: At Ripple, so-called whales are currently increasing their stocks.

By Twitter shows Santi Movement: Ripple accounts containing from 1 to 10 million XRP have increased in the last three months an average of their balances in XRP by 6 percent, which added up in US dollars is 200 million. Seen in this way, the large-scale transactions make sense. As they did at the beginning of December with another XRP Whale, observers are asking themselves : Do large investors know more about how the SEC lawsuit against Ripple will end in 2022 and are they optimistic about the future?

Others suspect that XRP will be in demand from SOLO because of an upcoming airdrop. SOLO is technologically based on Ripple's network and wants to direct liquidity in XRP towards DeFi. For this purpose, SOLO should be distributed to holders of XRP, depending on individual account balances. The crucial snapshot is scheduled for December 24th.

Ripple legally in a tight spot - XRP surprisingly stable

XRP is currently trading at around $ 0.80 and has bounced back from the shock of the XRP lawsuit in December 2020. The US Securities and Exchange Commission wants to collect at least 1.3 billion in damages from Ripple because XRP was sold without the necessary approval. When this became known almost a year ago, the price of XRP collapsed to a good $ 0.20. As a result of the SEC lawsuit, XRP was initially delisted from US crypto exchanges and most recently in Canada. In this situation, XRP remains surprisingly stable, even if clear reasons for it remain open.

Conclusion: XRP and the Whales - a never-ending story

Ripple (XRP)  has always been accompanied by discussions aimed at whether whales can affect the price curve. This was hung up for a long time by co-founder Jed MacCaleb, who left Ripple and turned his shares into cash over the years. Although MacCaleb has now been paid out in full, Ripple Whales are still largely suspiciously observed at XRP. If you follow their strategies, the current price level of XRP seems to be attractive for purchases. Whether SOLO or a court decision that is positive for Ripple can lead XRP to a sustainable plus is by no means clear.

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