XRP is on fire! It jumped over 40% in just the past week, hitting a high of $0.847.
This surge is happening at the same time that major XRP holders are making some serious moves, and it’s got everyone speculating.
XRP whales are loading up
Wallets holding at least one million XRP, often dubbed whales, now boast a whopping 45.61 billion tokens combined, and this is the highest level of accumulation since June 2018.
In the last two years, these big players have added 3.44 billion XRP to their holdings, an 8.16% increase.
This uptick in activity aligns perfectly with the bullish rally we’re seeing, with investors enjoying a nice return on their portfolios.
In just seven days, XRP has seen a price increase that has kept it above $0.82, maintaining that positive momentum.
Speculation about SEC changes
So, what’s driving this XRP rally? Well, there’s some chatter about potential shake-ups at the U.S. Securities and Exchange Commission.
Rumors are surfacing that current chairman Gary Gensler might step down, which could lead to a shift in the regulatory environment for cryptocurrencies.
XRP has been at the center of some high-profile legal battles, and its future is closely tied to ongoing legal and regulatory developments.
Investors are definitely keeping an eye on how this plays out, as Gensler is likely one of the most hated characters in the field.
It’s not just the XRP, it’s the whole crypto industry
With all this excitement around XRP and Ripple, it’s clear that large investors are feeling optimistic about its future.
As these millionaire wallets continue to accumulate tokens, it signals a strong belief in the asset’s long-term potential. And with Gensler departure? The future looks much brighter.
