XRP is gaining significant momentum, fueled by bullish market activity and major industry developments.
Wallets holding at least 1 million XRP now collectively own 45.61 billion tokens, marking the highest level of accumulation since June 2018. Over the past two years, whales and sharks have reversed their previous selling trends, amassing an additional 3.44 billion XRP—a notable 8.16% increase.
🐳 Wallets with at least 1M XRP now hold a combined 45.61B tokens, their highest amount held since June, 2018. In the past 2 years, whales & sharks have reversed course and accumulated 3.44B more XRP, a +8.16% increase. Traders have enjoyed a +40% return in the past 7 days. pic.twitter.com/nzYNU3CJyW
— Santiment (@santimentfeed) November 14, 2024
Traders have seen remarkable returns, with XRP delivering a 40% gain over the past week. The rally intensified in the last 24 hours, as prices surged 15%, reaching $0.82. This upward movement coincided with the announcement of SEC Chair Gary Gensler’s intention to resign—a decision that many in the crypto community view as overdue.
#SEC Chair Gary Gensler drops a message indicating he will resign. This is long overdue! #XRP price surged 15% to $0.82 in the last 24 hours! Gensler should pay a massive fine to all #Ripple investors! Retweet if you agree! pic.twitter.com/O2mYy1BkeR
— Collin Brown (@CollinBrownXRP) November 15, 2024
Adding to the excitement, Société Générale, a financial giant with $143 billion in assets under management, has officially launched its EURCV stablecoin on the XRP Ledger. This move aims to enhance cross-border payment capabilities, improve liquidity, and drive the adoption of digital assets. The integration of EURCV further underscores the growing utility of the XRP Ledger in global finance.
🚀 Société Générale, managing $143,000,000,000 AUM, launches its EURCV stablecoin on the #XRP Ledger, boosting cross-border payments, liquidity, and digital asset adoption. 🌍💰 #Ripple pic.twitter.com/iDdMcyUBe8
— Collin Brown (@CollinBrownXRP) November 15, 2024
With increased institutional adoption, whale accumulation, and positive regulatory developments, XRP’s outlook appears increasingly optimistic. As these factors converge, market participants are closely watching for further price action and long-term growth in the XRP ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/xrp-surges-as-whales-accumulate-gensler-resigns-and-societe-generale-embraces-the-xrp-ledger/