XRP Soars As Ripple Celebrates SEC Victory! What are the reasons behind the rise? Santiment Explained!

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SEC Ripple CEO Brad Garlinghouse and co-founder Chris Larsen He dropped his allegations against Garlinghouse and Larsen and the case against him was dropped.

At this point, while Ripple continues to win against the SEC in the XRP-SEC case, XRP The price also reacted positively to this.

XRP, which gained nearly 10% in a short time, rose to $ 0.53.

XRP, which experienced some withdrawal afterwards, continues to be traded at $ 0.516 at the time of writing.

One of the biggest catalysts behind this rise is undoubtedly Ripple’s recent victory against the SEC. However centimeterAccording to data from , another important catalyst was the hoarding frenzy of wallets holding 10,000 to 10 million XRP.

Santiment said in his post: He said that XRP assets have reached the highest balance since July 27, with wallets holding 10,000 to 10 million XRP constantly accumulating XRP.

Santiment also stated that, as a result of the recent accumulation frenzy, wallets holding 10,000 to 10 million XRP hold 29.5% of the XRP supply.

“XRP jumped above $0.53 for the first time in 10 days even though most altcoins continued to fall.

The increase can largely be attributed to the XRP hoarding spree, with addresses holding 10K to 10M XRP. These wallets hold 29.5% of the XRP supply. “

In the graphic shared by Santiment, XRPHe stated that it reached a social dominance of 2.56% and that this figure indicates the second highest rate of the last few months.

This increase in social dominance is due to Ripple’s recent litigation victory against the SEC and the increase in the price of XRP.

*This is not investment advice.

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