XRP, the fifth-largest cryptocurrency, has seen a surge in price, reaching $0.53, its highest point in the past 10 days. This increase in price can be attributed to a group of addresses known as the “smart money tiers” that has been accumulating XRP since October. These investors, categorized as “smart money,” hold between 10,000 and 10 million XRP each and now possess the highest quantity of XRP since July 27, accounting for 29.5% of the total supply.
The rise in XRP’s price is also reflected in its social dominance, which has reached its second-highest point in over a month, indicating increased interest and engagement within the cryptocurrency community. This trend coincided with the United States Securities and Exchange Commission’s (SEC) announcement to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen. This is the company’s third win against the SEC, following a ruling by the Southern District of New York that the offering and Trading of XRP on digital asset exchanges did not constitute the selling of Investment contracts.
Although the dispute between Ripple and the SEC is ongoing, the legal clarity provided by these rulings has significantly boosted XRP’s appeal among investors. It suggests that XRP is on a promising trajectory towards sustained impressive performance.
Overall, the surge in XRP’s price can be attributed to the accumulation of XRP by the “smart money tiers” and the positive legal developments in the ongoing Ripple-SEC dispute. These factors have increased investor confidence and interest in XRP, leading to its recent price increase..
#XRPs #Price #Uptick #Linked #Major #Accumulation #Savvy #Investors #Data
The rise in XRP’s price is also reflected in its social dominance, which has reached its second-highest point in over a month, indicating increased interest and engagement within the cryptocurrency community. This trend coincided with the United States Securities and Exchange Commission’s (SEC) announcement to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen. This is the company’s third win against the SEC, following a ruling by the Southern District of New York that the offering and Trading of XRP on digital asset exchanges did not constitute the selling of Investment contracts.
Although the dispute between Ripple and the SEC is ongoing, the legal clarity provided by these rulings has significantly boosted XRP’s appeal among investors. It suggests that XRP is on a promising trajectory towards sustained impressive performance.
Overall, the surge in XRP’s price can be attributed to the accumulation of XRP by the “smart money tiers” and the positive legal developments in the ongoing Ripple-SEC dispute. These factors have increased investor confidence and interest in XRP, leading to its recent price increase..
#XRPs #Price #Uptick #Linked #Major #Accumulation #Savvy #Investors #Data
