Now that the crypto market cap has grown again, everyone in the crypto community has a chance to reflect on other industry events, such as the dispute between the US SEC and Ripple. And when this happens, of course, a lot of speculation also takes place.
Whales are buying more and more XRP
Still, Ripple continues to generate a lot of revenue with its On-Demand Liquidity offering, which is still very large. The crypto company therefore made about $225 million in turnover in just 1 quarter.
WhaleStats, a tracking platform focused on crypto whales, recently shared new numbers. This shows that the top 100 BSC Whales are increasingly interested in XRP. These whales currently own nearly $30 million worth of XRP tokens, but this number is rising. The altcoin is increasingly appearing in the top 10 of most bought cryptos by whales.
This is despite the fact that Ripple is still in litigation with the US Securities and Exchange Commission (SEC). Although the lawsuit has been going on for a long time, it is not immediately clear whether there will be a winner, and if so, who that will be. The chance of a settlement also seems to be increasing.
Crypto whales appear to be betting that XRP will come out of the lawsuit well. This is due to the fact that they are collecting more and more XRP tokens. It is not yet known whether this trend will last for a long time, but it seems to be a good sign.