The cryptocurrency market started the year 2023 quite well, led by Bitcoin. The total value of the market has exceeded $1 trillion this year. However, one of the most anticipated developments of this year is Ripple and on the SEC litigation front. It is quite possible that the XRP decision from the case will have an impact on the cryptocurrency market.
The daily trading volume in altcoin XRP is currently hovering over $1 billion. If we look at the beginning of January, this value decreased to 400 million dollars.
According to the data XRP price It has also recorded a good increase of 21% in the last 30 days. While assets like other altcoins ADA and MATIC have skyrocketed 50% vs 53%, Ripple’s native token is performing quite well. However, according to news sources, traders tended to prefer rival altcoins over Ripple.
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The “2022 4th Quarter Reports” from the company revealed much more important details. According to the report, the company sold $226.31 million in XRP in one quarter. This indicates that demand for the “On Demand Liquidity (ODL)” offering is still strong. Such developments are remarkable considering that Ripple is still in a public legal battle with the SEC.
Whales Flock to XRP Token!
According to WhaleStats, among the top 100 BSC whales, XRP is currently among the most traded assets. The token also topped the list of purchases by the biggest BSC whales in the previous 24 hours. According to the data, the top 100 BSC whales currently hold $29.23 million worth of tokens. This corresponds to an average of 2.53% of the supply.
As a matter of fact, XRP was the biggest loser among the top 10 cryptocurrencies, according to its performance in the previous 90 days. The price of the token fell sharply by 17% during the aforementioned period. On the other hand, the bitcoin price has increased by almost 10% over the past 90 days.