XRP is still up 60% this year amid SEC lawsuit
According to data from CoinGecko, XRP remains up almost 60% so far in what appears to be a largely difficult year for the cross-border token. That may seem like a meager increase from Bitcoin and Ethereum which are up 147.4% and 550% this year. XRP always holds up in troubled waters.
Around this time in December 2020, the SEC unveiled its lawsuit against Ripple for allegedly raising more than $1.3 billion through an unregistered securities offering. Ripple is fighting suit, saying that XRP should not be considered a security. Ripple CEO Brad Garlinghouse believes the case should likely conclude in 2022.
This SEC ruling against XRP caused it to be delisted from cryptocurrency exchanges in the United States, Coinbase included. Recently, the Canadian cryptocurrency exchange Bitbuy announced that it will withdraw XRP, now the eighth largest cryptocurrency by market cap, on January 13, 2022. While investors are hoping for XRP to relist, investors whales disturbed?
XRP whales continue accumulation
As indicated by on-chain analytics firm Santiment, XRP whales have increased their holdings by nearly 6% since September and are currently sitting on 3.31 billion XRP.
#XRPNetwork currently sits at around $ 0.81, but smart money whale millionaires have maintained their year-long trend of racking up more supply. Addresses with $ 1M to $ 10M XRP hold 3.31B, including a 6% increase in their holdings in the past 3 months.
XRP whales began accumulating nearly a year ago when XRP steadily dipped to lows around $0.16. This timing also fell during the period in which the SEC unveiled its lawsuit against Ripple.
XRP is currently down 2.17% for the day at a current price of $ 0.793.
