According to U.Today, XRP has seen a massive surge, surging more than 40% in the past week to hit a four-month high of $0.847. This surge coincides with notable activity from major XRP holders, often referred to as whale and shark wallets. These wallets, which each hold at least 1 million XRP, now collectively hold 45.61 billion tokens. This represents the highest accumulation level since June 2018, with these wallets adding 3.44 billion XRP over the past two years, representing an 8.16% increase in their holdings.🔥
This trend indicates growing confidence among large investors in the long-term value of XRP. The recent bullish rally has resulted in strong returns for investors, with XRP’s market cap increasing by 40% in just seven days. The price has risen above $0.82, maintaining its upward momentum. This activity comes amid speculation about potential changes at the US Securities and Exchange Commission (SEC), with rumors circulating that current Chairman Gary Gensler may step down. Such a development could significantly impact the regulatory environment for crypto markets.🚀
XRP, the token associated with Ripple, has been at the center of high-profile legal battles, and its future is closely tied to ongoing legal and regulatory developments. The recent surge in the value of XRP and the increasing accumulation by large cryptocurrency holders reflect a complex interplay between market dynamics and regulatory speculation, highlighting the evolving landscape of the cryptocurrency market.
# SEC
# XRP
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