The post On-Chain Data Shows Ripple Whales Have Increased XRP Accumulation; What Next For XRP Price? appeared first on Coinpedia Fintech News
The XRP market has been in a falling trend since the beginning of June. Trading around 47 cents on Thursday, experts argue that the daily price action is forming a bullish pennant flag in preparation for a breakout.
Moreover, the SEC vs Ripple case ruling is expected to be issued anytime, according to timelines predicted by CEO Brad Garlinghouse. A win on Ripple, which entails XRP is not a security, could result in a bullish outburst towards ATH and vice versa if the SEC wins.
Santiment Shows XRP Whales Are Accumulating More
According to on-chain data analytics platform Santiment, XRP whale accounts holding between 10m and 100m units have exponentially increased their accumulation YTD.
However, the accumulation rate recently spiked to ATH when the XRP price recently dipped about 12 percent to trade around 47 cents. Specifically, between June 22
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