The number of addresses holding XRP spikes.
Investors’ confidence in Ripple (XRP) has recently surged tremendously. This is reflected in the spike of addresses holding XRP. According to data from XRP validator Rich-List.Info, the total number of addresses holding XRP currently sits at 4,341,298 (4.34 million).
The data suggest that 29,883 new addresses were added to the Ripple network in only 25 days. As reported by The Crypto Basic on October 1, 2022, 4,311,415 (4.31M) wallet addresses were holding the sixth-largest cryptocurrency by market capitalization.
Interest in XRP Surge Amid Positive Developments in SEC Lawsuit
Interestingly, as positive developments are recorded in the ongoing lawsuit between Ripple and the Securities and Exchange Commission, investors regained confidence in the asset class. Investors’ confidence in XRP is slightly reflected in the asset’s price. At the time of writing, XRP is changing hands at $0.467, up 2.1% in the last 24 hours.
Aside from the growth in the number of wallets holding XRP, there have been large XRP movements among whale investors over the past week. Whales have transferred billions of XRP to different addresses on exchanges and unknown wallets. On certain occasions, Ripple has sometimes been involved in these large XRP transfers. Recently, Ripple transferred 75 million XRP to an anonymous whale.
Ripple v. SEC Lawsuit
Meanwhile, several developments have emerged in the lawsuit between Ripple and the SEC. The parties have filed their summary judgment motions. Both the SEC and Ripple have also filed replies to each others’ summary judgment motions.
Ripple recently slammed the SEC in a motion, saying the agency cannot establish a legal theory to back its claim that XRP is a security. The blockchain company recorded a significant win in the lawsuit earlier this month, as the SEC finally surrendered William Hinman’s documents. These exciting developments helped revive investors’ confidence in XRP.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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