In the case between Ripple (XRP) and the SEC, Judge Torres’ decision was the subject of controversy in the legal community, while on-chain data revealed that whales continue to accumulate.
According to the latest chart shared by crypto tracker Santiment, the amount of XRP accumulated by Ripple whales has increased significantly. Statistics reveal that 199 different whales hold 100 million XRP coins. The market value of the altcoin, which has been accumulated by large investors, is around 74 million dollars.
Santiment analysts stated that this metric has reached the highest number since May 13, 2023.
Long Investors Are In Loss!
With the lawsuit decision, Ripple’s altcoin unit, which exceeded the level of $ 0.90, fell below $ 0.70 today. Market tracker Coinglass revealed that XRP investors who open long positions in the leveraged market are making a loss.
According to Coinglass data, traders who opened long (up) positions lost $8 million in 24 hours.
Ripple Price
Ripple’s cryptocurrency continues to decline after losing the intermediate support level 0.727 after rising.
If the sale continues in the altcoin, which is currently trading around $ 0.69, the next support is at $ 0.566.
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