Cryptocurrency

United

Dubai

<div class="finbold">
 <p class="paragraph">As the recent bullish wave brought advances to many assets in the cryptocurrency market, XRP has crossed a critical psychological price mark for the first time since early August, and <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>s have been accumulating at the highest levels this year.</p>
 <div></div>
 <p class="paragraph">Specifically, the XRP holdings of cryptocurrency <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> with between 100,000 and one billion of the asset have reached 45.8% of its total supply – the highest level in 2023, whereas the market value of XRP Ledger’s cryptocurrency surpassed $0.68 for the first time since August 2, according to recent data.</p>
 <p class="paragraph">It is also important to note that the increased <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> accumulation and market value have accompanied the largest spike in XRP discussion rates since mid-July and XRP’s move up 23% against the price of Bitcoin (BTC) in the past week alone, as shared by the blockchain analytics platform <em>Santiment</em><em> </em>on November 6.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/ag5ajCYjLLpUlJ2ItmGAp_et6wJ24Mh4kfk8t-traZLm-rbMshrbebUVvuBENR4UnqYucQM6IF91GXWc4PvXExO-gQMgMMmzMI2qtzgWcJGfqyOk_x_5d9eFbutiRiTgSG3UKk_HsBHnio3BFxkWYTs" alt>
  <figcaption class="wp-element-caption"><em>XRP whales holdings and social dominance. Source: </em><em>Santiment</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-xrp-price-analysis">XRP price analysis</h2>
 <p class="paragraph">Indeed, the price of XRP at press time stood at $0.6932, which represents an increase of 1.7% in the last 24 hours, in addition to the gain of 21.08% across the previous seven days, and advancing 32.95% over the past <a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a>, according to the latest charts on November 7.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/B9dIhQkmUDLnuqMiVeT_3wVP__J28ZUJEd8rr_tKovd32-Gwz_RzXotAGYdohFN52K6Qy_8edqUbdnnnyz7AEezHsfdy7YJHc4kO44Bwx1G7ABN1QM1CABXf_5E2Y5AvBEBLmch-Rlpt8M4_JS1p5Kw" alt>
  <figcaption class="wp-element-caption"><em>XRP 7-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/07/2fc938e24413a913887af0bed017653f.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="legal-expert-these-damages-would-make-ripple-99-9-winner-v-sec">Legal expert: These damages would make Ripple 99.9% winner v. SEC</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/07/b143219a5db9aa4f39c1aaa914c8e4e4.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-rallies-10-in-a-day-amid-slowdown-here-s-why">XRP rallies 10% in a day amid slowdown; Here's why</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/07/e6aba8859596119d399ad550a396f382.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-price-targets-1-3-as-nearly-1-billion-inflows-into-its-market-cap">XRP price targets $1.3 as nearly $1 billion inflows into its market cap</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/06/0bce55d48aba938713322cda7fcfa280.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-gears-up-for-an-ipo-bullish-for-xrp-price">Ripple gears up for an IPO; Bullish for XRP price?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/11/07/aa341df9dbd2d2a57039eed1fb7a06d5.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-price-forecast-as-dubai-adds-token-to-its-virtual-asset-regime">XRP price forecast as Dubai adds token to its virtual asset regime</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Meanwhile, XRP has even briefly managed to cross the $0.7 mark yesterday, having rallied 10% in a single day amid a crypto market-wide slowdown and driven by the positive narrative surrounding the legal standoff between Ripple and the United States Securities and Exchange Commission (SEC).</p>
 <p class="paragraph">As it happens, several legal experts earlier observed that the amount of damages that Ripple would have to pay over the XRP sales to institutional buyers, which the court declared securities sales could be a lot lower than the $770 million penalty that the regulator is seeking now that the case is over.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-surges-to-3-month-high-as-whale-wallets-accumulate-tbt69314.html">https://thebittimes.com/xrp-surges-to-3-month-high-as-whale-wallets-accumulate-tbt69314.html</a></p>

XRP surges to 3-month high as whale wallets accumulate

Table of Contents

TheBitTimes

Other articles published on Nov 7, 2023

Rocket Pool proposal triggers negative buzz

Bitcoin Ordinals see resurgence on Binance listing

Ava Labs axes 12% of staff to redirect efforts towards expansion

Analyzing ADA Solid 25% Gain: Signs Point To Cardano Rally Ahead

What is Nakamoto Games? NAKA Price Prediction 2023, 2024, 2025 to 2030

BLUR Jumps 21%, Its Trigger Might Surprise You

Join our free newsletter for daily crypto updates!