Whales Acquire Over 146 Million XRP Amid Recent Developments

• Whales have contributed over 146M XRP, about worth $77M over several transactions.
• XRP is up 2.65% in the last 24 hours as per CMC.

Expectations of success in a lawsuit against the U.S. Securities and Exchange Commission (SEC) have boosted the value of Ripple’s native token, XRP. According to WhaleAlert’s data, in the previous 24 hours, whale addresses have contributed over 146 million XRP (about worth $77 million) over several transactions.

The largest accumulation transaction recorded by the tracker, however, was the addition of 50 million XRP from the cryptocurrency exchange Crypto.Com, which is estimated to be worth $26 million.

With Crypto.Com’s addition, CryptoWhale’s XRP holdings increased by $51.4 million. Nevertheless, Crypto Whales bought 23.4 million XRP from Binance, which is now worth around $12.1 million.

Ongoing Bullish Momentum

The market price of XRP has increased by 43% during the last 30 days. This is the second-highest growth rate among the top-10 tokens, behind only Bitcoin (BTC).

While using the euro as its de facto currency, Montenegro’s Central Bank (CBCG) has announced intentions to work with blockchain service provider Ripple on a pilot program for a central bank digital currency.

Ripple stated on Tuesday that the central bank will determine use cases for a CBDC and create a prototype to model the cryptocurrency’s circulation.

The optimistic mood in the cryptocurrency market as a whole may also contribute to XRP’s possible price increase. The most valued cryptocurrency, Bitcoin (BTC), has broken over $30,000, a level of resistance that has been in place since June 2022.

According to CMC, the XRP price today is $0.518602 USD with a 24-hour trading volume of $1,272,829,575 USD. XRP is up 2.65% in the last 24 hours.