XRP wallets holding over 1 million coins have hit an all-time high, driving speculation about a potential price rally. This increase coincides with ongoing legal issues with the SEC.
The surge in large XRP wallets indicates rising investor confidence and hints at a possible price rally, despite the continuing legal battle between Ripple and the SEC that affects market sentiment.
Record Surge in XRP Wallets Exceeds 2,850
XRP wallets with over 1 million coins have reached a record 2,850, indicating robust long-term investor confidence. Ripple’s legal battle with the U.S. SEC continues to influence market perceptions and activity.
Significant activity in large XRP wallets… wallets holding over 1 million XRP reached an all-time high of 2,850, said Dom, Futures Trader.
The latest increase in whale activity comes amid stalled settlement discussions between Ripple and the SEC. District Judge Analisa Torres emphasized that settlements cannot override court authority.
Historical Patterns Show Possible 420% Rally
Analysts speculate that if past trends repeat, the increased whale activity could trigger a significant rally similar to the 420% surge in a previous period. On-chain XRP payment volume highlights recent network activity.
Potential financial outcomes include a breakout, supported by on-chain data. Historical trends suggest that whale movements often precede significant price swings.
XRP Price Surges Linked to Whale Activity
Similar past events saw XRP experiencing price surges after marked increases in whale wallet activity. These precedents suggest a possible trajectory for current conditions.
Expert analysis from Kanalcoin points to the significance of whale flows as a bullish indicator. Current data supports this view, as historical trends coupled with legal news may trigger market shifts.
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