Blockchain Ripple, one of the most rooted initiatives in its history, SEC Due to the expectation of victory in the ongoing lawsuit with the company, it has been facing great interest from investors in recent days.
As the court’s summary judgment approaches, on-chain data shows major investors purchasing the native token XRP. on-chain Cryptocurrency analyst Ali Martinez, who shared the charts of his follower Santiment, drew attention to the latest whale movements.
According to data shared by Martinez, 10-100 million over the past month XRP 50 new addresses have been added to the holding whales. Major investors added 420 million XRP tokens ($185 million market cap) to their wallets.
Ripple The extra rise in the price of the last days reveals that the on-chain data reflects the truth.
XRP Analysis
Ripple’s native cryptocurrency has gained 17% since Monday. Although XRP surpassed the $0.49 level during the week, it did not stay here and sold as low as $0.41.
After the pullback, Ripple found support from the old resistance area (green colored zone) on the 4-hour chart.
If the upward movement continues, the $0.50 level is a possible resistance area.
$XRP It is currently trading at $0.447.
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