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<ul>
 <li>XRP price surges by over 8%, regaining the $0.5 mark amidst positive market sentiments.</li>
 <li>SEC drops claims against Ripple Labs executives, further boosting XRP’s value by 10%.</li>
 <li>Whale holdings in XRP increase, indicating strong confidence post the Ripple vs. SEC case.</li>
</ul>
<p>In a market where altcoins grapple with stability, XRP emerges as a beacon of hope. For the first time in nearly two weeks, XRP’s price has surged impressively, marking an over 8% increase in just a day and reclaiming the pivotal $0.5 mark.</p>
<p>This surge isn’t mere coincidence. Recent disclosures reveal that XRP executives have clinched another win against the SEC, a victory that undoubtedly fuels this bullish trend.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/XRPLedger?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPLedger</a> enjoyed its first jump above $0.53 in 10 days despite most <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#altcoins</a> continuing to decline. The rise can largely be attributed to the 'smart money' tiers, holding between 10K to 10M <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a>, accumulating rapidly. They hold 29.5% of the supply. <a href="https://t.co/KULxMtMGRL" rel="noopener noreferrer nofollow">https://t.co/KULxMtMGRL</a> <a href="https://t.co/LTzFcrwG3f" rel="noopener noreferrer nofollow">pic.twitter.com/LTzFcrwG3f</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1715182045675266123?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 20, 2023</a>
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<p>The SEC’s decision to retract claims against two Ripple Labs stalwarts further propelled XRP’s value, leading to a swift 10% gain. However, this meteoric rise was followed by a slight 2% correction.</p>
<p>Another contributing factor to XRP’s ascent is the notable accumulation by smart money entities holding between 10K to 10M XRP tokens. Data from Santiment indicates that these whale holdings now account for a whopping 30% of XRP’s total supply, the highest since the favorable Ripple vs. SEC verdict in late July.</p>
<p>Given the current market dynamics, XRP’s price trajectory looks promising. The prevailing sentiment strongly suggests an impending uptrend. If the bulls maintain dominance, pushing the price above the $0.51 resistance, XRP could soon challenge the $0.52 mark.</p>
<p>A sustained market at this level might even see the price targeting the upper resistance of $0.53. Conversely, should the bears regain control, XRP might retreat to its support at $0.50, and if the bearish trend persists, the $0.45 mark could be tested in the ensuing week.</p>
<p>Ripple and XRP, fortified by recent events, are set to carve a niche in the crypto landscape. Their trajectory not only promises growth but also heralds a new era of trust and investor confidence.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/crypto-whales-are-losing-their-supply-while-retail-is-buying/" rel="noopener noreferrer nofollow">Crypto Whales are Losing Their Supply While Retail is Buying</a></li>
 <li><a href="https://cryptonewsland.com/recent-rise-in-xrp-burns-is-nothing-to-panic-about/" rel="noopener noreferrer nofollow">Recent Rise in XRP Burns Is Nothing to Panic About</a></li>
 <li><a href="https://cryptonewsland.com/mystery-whale-shifts-425m-xrp/" rel="noopener noreferrer nofollow"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;">Mega Move Alert!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f40b.png" alt="🐋" class="wp-smiley" style="height: 1em; max-height: 1em;"> Mystery Whale Shifts 425M XRP: What’s Next?</a></li>
 <li><a href="https://cryptonewsland.com/how-xrp-could-skyrocket-past-the-20-mark-analyst-weighs-in/" rel="noopener noreferrer nofollow">How XRP Could Skyrocket Past the $20 Mark: Analyst Weighs In</a></li>
 <li><a href="https://cryptonewsland.com/xrp-whales-on-the-rise-amassed-over-billion-xrp-dont-miss-out-on-the-next-big-thing/" rel="noopener noreferrer nofollow">XRP Whales on the Rise: Amassed Over Billion XRP, Don’t Miss Out on the Next Big Thing</a></li>
</ul>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/why-whale-holdings-in-xrp-now-account-for-nearly-30-of-total-supply/">Why Whale Holdings in XRP Now Account for Nearly 30% of Total Supply</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Why Whale Holdings in XRP Now Account for Nearly 30% of Total Supply

Crypto News Land

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