Ripple’s legal battle with the SEC had a huge impact on XRP and its future. Judge Analisa Torres’ characterization of XRP as a non-security and not a security was met with a huge positive response in the crypto community. This has had a positive impact on the future use potential and adoption rate of XRP.
XRP Ledger is a crypto network known for its fast and low-cost transaction processes. Uncertainties ahead of the SEC lawsuit may have caused some investors and users to hesitate. However, with the positive decision of Judge Analisa Torres, the reduction of uncertainties regarding the security status of XRP has caused the crypto community to turn to the XRP Ledger again.
According to data from Santiment, the 23.7% increase in active addresses on XRP Ledger over the past 30 days can be considered as an indication of the resurgent interest in this crypto asset. Also, the average 43.2% growth in the number of active addresses on the network for 365 days indicates the long-term popularity of XRP is growing. Additionally, Santiment noted that it is necessary to monitor developments with active addresses to understand how the altcoin price will behave in the coming weeks and months.
XRP Whale Trading Rising
The leading blockchain analytics platform has revealed that millions of XRP tokens were collected by investors with deep pockets even before the exciting decision in the SEC and Ripple lawsuit.
Specifically, recent Santiment data showed that since May, addresses holding between 100,000 and 100 million XRP have accumulated around 838 million XRP tokens.
On the other hand, after Judge Analisa Torress ruled that XRP is not a security, more than 637 transactions worth more than $100,000 were recorded on July 13. These rising whale accumulations contributed to altcoin trading volume eclipsing 4.46 billion on July 13, making it the highest level of XRP trading in more than ten months.
In addition to all this, it is worth noting that wallets holding at least one million XRP have recently exceeded 1,900.
This tremendous growth could provide optimism about the value and potential of XRP and rekindle investor confidence in XRP in the crypto market. However, amid these escalating whale actions, a top analyst has warned investors to trade cautiously, noting that XRP will never break its all-time high. called.
You can follow the current price action here.
Source : the crypto basic