XRP Whales Holding Hits ATH Amid Pending Summary Judgment

XRP News: The long running legal tussle between Ripple and U.S. Securities and Exchange Commission (SEC) is moving toward the much awaited Summary Judgment. The anticipation around the Ripple lawsuit ruling has driven the crypto whales to go on a heavy XRP accumulation spree.

XRP whales on aggressive accumulation

As per the data provided by Santiment, Crypto whales and sharks are aggressively accumulating XRP tokens in the month of December 2022. It highlighted that the whale addresses that hold 1 million to 10 million XRP have hit the all time high (ATH).

Data depicts that there were just 1440 such whale addresses on November 1, 2022. While these addresses numbers have increased to stand at 1,617.

The percentage of supply of XRP held by these whales was recorded to be 6.33% on November 1, 2022. However, data shows that the percentage of supply held has reached 7.23% which is a new ATH.

Coingape reported that the crypto whales moved more than 675 million XRP on Monday, September 19. While around 500 million XRP were transacted by the whales on the day when the court partly rejected the SEC’s motion in the XRP lawsuit. Read more XRP news here