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TL;DR<\/strong> Ripple and its native token \u2013 XRP \u2013 have splashed the waters in the cryptocurrency space once again after the company secured<\/a> a third court victory in a row against the US Securities and Exchange Commission (SEC). The news triggered a price rally for the asset, which surged to approximately $0.53 (per CoinGecko) for the first time in two weeks.\u00a0<\/span><\/p>\n According to the crypto behavior analytics platform \u2013 Santiment, XRP\u2019s rise could be attributed to another factor: the recent accumulation spree from large investors. Specifically, sharks and whales (those holding between 10K and 10M tokens) have increased their overall possessions to the highest level since the end of July.<\/span><\/p>\n \ud83d\udc33\ud83d\udcc8 #XRPLedger<\/a> enjoyed its first jump above $0.53 in 10 days despite most #altcoins<\/a> continuing to decline. The rise can largely be attributed to the \u2018smart money\u2019 tiers, holding between 10K to 10M $XRP<\/a>, accumulating rapidly. They hold 29.5% of the supply. https:\/\/t.co\/KULxMtMGRL<\/a> pic.twitter.com\/LTzFcrwG3f<\/a><\/p>\n \u2014 Santiment (@santimentfeed) October 20, 2023<\/a><\/p>\n<\/blockquote>\n They own 29.5% of XRP\u2019s circulating supply or almost 16 billion assets. Calculated in current rates, the amount equals over $8 billion. As CryptoPotato<\/em> previously\u00a0<\/span>reported<\/span><\/a>, those investors held less than 27% of the existing supply at the beginning of the month.<\/span><\/p>\n Analysts and experts have recently laid out numerous bullish forecasts, envisioning XRP to reach a new all-time high in the near future. Their bets now seem even more plausible, considering Ripple\u2019s latest win against the SEC.\u00a0<\/span><\/p>\n Some individuals, including the popular cryptocurrency analyst going by the name \u201c<\/span>KALEO<\/span><\/a>,\u201d are optimistic that Ripple\u2019s native token will continue rising in the future due to a possible decisive victory in the legal battle.\u00a0<\/span><\/p>\n The AI-powered language model \u2013 ChatGPT \u2013 also\u00a0<\/span>estimated<\/span><\/a>\u00a0that regulatory clarity could be among the vital elements to boost XRP\u2019s valuation and eventually prompt a bull run for the asset.\u00a0<\/span><\/p>\n Readers willing to find out how the coin might perform during the last quarter of 2023 could take a look at our dedicated video below:<\/span><\/p>\n \u00a0<\/p>\n
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XRP Sharks and Whales Control Almost 30% of the Supply<\/h2>\n
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How High XRP Could Go?<\/span><\/h2>\n