The number of wallets with a balance of more than 1 million XRP has approached a record value

Santiment specialists have recorded 2013 such wallets

23.04.2024 - 08:55

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3 min

What’s new? Specialists of the analytics platform Santiment have noted the positive dynamics of the value and network indicators of XRP, a native token of the Ripple payment protocol. Thus, over the day in terms of growth rates, the asset on average outpaced other altcoins, adding 6% and reaching $0,5687.

Source: Twitter.com

What else is known? The growth of the rate is observed against the background of an increase in the number of wallets with a balance of at least 1 million XRP. The indicator has been growing steadily over the past six weeks, it increased by 3,1% and reached 2013 pieces, approaching an all-time high. The record at 2014 large XRP addresses was set on June 17 last year.

XRP takes the seventh place in the overall ranking of cryptocurrencies by market capitalization with a value of over $30,2 billion. By the time the news was written, the exchange rate corrected to $0,5487, a weekly increase of 10,9%.

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The growth of XRP is noted amid news about the progress of the litigation of the developer company Ripple Labs with the US Securities and Exchange Commission (SEC) regarding the status of the asset.

The day before, Ripple filed an objection to officials’ demands for $2 billion in fines for selling XRP to institutional investors, which violated securities laws while bringing billions of dollars to the company.

Ripple lawyer Stuart Alderoty noted that the company was not charged with fraud as part of the process and won on important issues. Under these circumstances, he said, the SEC’s request for a fine “is just more evidence of its ongoing intimidation against all of crypto in the US.”

Source: Twitter.com

The proceedings regarding securities law violations in the initial sales of XRP have been dragging on since late 2020. Last year, the court said that selling the asset through digital exchanges to retail investors was not a violation, but direct institutional sales are considered securities transactions.

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