Whales have accumulated large amounts of XRP at $0.65
The Ripple Ledger Network has taken another giant step towards regulatory clarity. On October 19, the US Securities and Exchange Commission (SEC) withdrew its lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Lawson. Let us recall that shortly before this, the court rejected the SEC's request to appeal a decision in favor of Ripple Labs, which found that the sale of XRP to retail investors did not constitute an offering of securities.
As expected, the market reacted positively to the news, and the price of XRP launched a meteoric 22% rally above the $0.60 mark. A key role in this rally was played by a strategic cohort of Ripple whales, which have increased buying pressure on the asset over the past 10 days.
As shown in the Santiment chart, whales (wallets with balances between 10 million and 100 million XRP) increased their holdings by another 80 million coins between October 21 and November 2.
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