Ripple Price will Surge as Whales Continue to Increase their XRP Holdings

The lawsuit between Ripple Labs and SEC has gotten its fair share of attention and traction from the cryptocurrency community. The idea that SEC might be setting a precedent for the entire cryptocurrency market regulation has made this lawsuit more interesting for many investors. The XRP investors hailing from the US have also gotten the front-row seat in the matter to ensure their interests.

With the case entering its finishing lap, many people believe that it would be concluded by the second quarter of 2023.

Santiment’s Latest Projections for XRP

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As per the latest data projections by Santiment, the indicators for XRP have started to show a divergence for the bullish rally. These metrics have been brought to light by cryptocurrency enthusiast @Sanr_King on Twitter.

As per the latest XRP statistics, whale investors are increasing their XRP accumulations. On the other hand, some traders have generated short positions. The XRP token is about to cross a decisive and important long/short ratio.

As per the metrics highlighted by Snar, the counts of XRP holders that hold 1 to 10 million tokens have been increasing their holdings.

As per the metrics, the average increase among XRP whales is measured to be around 25%. It means that the total whale holdings for XRP have reached 4.09 billion XRP. This type of trading behavior often becomes visible among investors when the market has peaked bottom.

The pseudonymous analyst has also maintained the XRP prices are heavily influenced by whale investors.

During the last six months, XRP prices have oscillated between $0.28 and $0.54. At press time, the per unit price of XRP is fairing at $0.35 and it has shown a visible increase of 1.17% during the last 24 hours.

The arrival of bullish indicators from on-chain resources is translating into the improving impression of the controversial token among investors.

Some XRP holders also believe that the utility of XRP has increased and improved over time. XRP is no longer associated with RippleLabs but it has been tethered to the XRPLedger.

On the other hand, XRPLedger has started to work with governments and financial enterprises for different blockchain projects. Another reason for the emergence of positive indicators for XRP is the approaching conclusion of the SEC and Ripple Labs case.

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