XRP addresses holding 1 million to 10 million tokens surged by 2.4% surge in the last 11 days, to the highest percentage of the asset’s supply in the last two months.
The tokens are projected by analysts to surge as high as $2.55 by the end of 2022 based on the outcome of its legal battle against the US Securities and Exchange Commission. The regulator sued XRP developers for allegedly issuing over $1.3 billion in unregistered securities.
The legal tussle is expected to end by November this year, with both parties having consent that the closing briefs will take place before the end of the year.
The news comes amid market volatility that has recently oscillated between bearish and bullish momentum. XRP is currently trading at $0.3894, a 2.36% drop in the past days and a 4.62% over the previous week.
🐳 #XRPNetwork whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset's supply in 2 months. This is the most active tier of non-exchange holders, and currently hold 6.12% of all $XRP. https://t.co/l39gjRe1Jb pic.twitter.com/M71kwL6r7T— Santiment (@santimentfeed) May 25, 2022