On one side, XRP is facing a downfall due to the ongoing global market downfall. On the other hand, it is the Ripple-SEC lawsuit that has been lingering for a while.
Even though it’s been more than two years, the case is not coming to a close. This has made the situation worse for the asset and it is constantly moving downward.
Every now and then, positive pieces of information used to come from the Ripple lawsuit. However, the positive updates have lost their impact on XRP lately.
The situation has now turned difficult for XRP as the investors are not supporting any rallies despite the increasing chances of Ripple’s win against the SEC.
This means that the investors are now eager to see the final result instead of anxiously waiting for the outcome.
XRP Whales are Gaining from the Opportunity
While the majority of the investors are waiting for the final verdict on the Ripple-SEC case, the crypto whales are enjoying this moment.
They seem to be taking full advantage of the current XRP market downtrend. They have been accumulating as many XRP tokens as possible while the price of the asset is down.
They are taking full advantage of the dip that the price of XRP has been facing for a while. There is a great movement being witnessed from the side of the XRP whales lately.
They are busy moving funds here and there and their activities are not coming to a stop. While doing so, the holders of the XRP tokens have successfully breached a particular milestone.
It is considered a major milestone that had been set for the holders, and it indicates strong and thriving days for XRP ahead.
Whales seem to be on a Buying Spree
XRP Ledger Service, which tracks the movement of the Ripple protocol has provided information pertaining to the constant rise in the XRP acquisition.
The platform has revealed that in recent months, people have started buying XRP in great abundance. They are constantly buying XRP, which is increasing the total number of XRP account holders.
In the recent report, the XRP Ledger Service confirmed that the major milestone for the XRP account holders was a total of 4.5 million accounts.
However, the level has been breached and the total number of XRP account holders is 4,506,842.
According to the data collecting firm, this is one of the highest figures they have hit for the XRP account holders.
Number of Accounts Added Since October
With the year 2022 coming to a close, the number of XRP holders has continued to rise on a larger scale.
The report shows that since the beginning of October until now, over 160,000 accounts have been added to the XRP ecosystem. All of the mentioned newly made accounts since October are holding XRP.
When it comes to the XRP whales, the data has reached another level. The report shows that since the start of 2013 when XRP was first launched until now, the XRP whale holdings have hit the highest level.
Therefore, it is safe to say that the overall XRP holdings of the whales are at an all-time high. The percentage occupied by just the largest crypto whales for XRP now stands at 7.23%.
At the beginning of November, the total number of holders that had 1 million to 10 million XRP in their possession had risen tremendously.
At the beginning of November, the total figure was 1,440 but it has reached a higher figure of 1,617 now.
WhaleAlert has reported that in the past 24 hours, over 280 million XRP tokens have been moved by the crypto whales. There was a whale, which reportedly moved $11.1 million worth of XRP tokens.