Dumping whales that are still confident in the potential of XRP have been seen accumulating these assets over the past few months even though the price has shown no reaction and is moving horizontally.
Based on observations by Santiment, their holdings have increased 6% to 3.31 billion XRP in just 3 months.
Meanwhile, the number of transactions processed on the XRP network recorded an increase from 43.3 million in October to 53.3 million the following month.
In fact, the network also accommodated a number of new users, up 11.8% to a record 237,000.
The performance of activity on this network was quite exciting despite facing a decline in asset prices of up to almost 21% throughout December and is currently trading at $ 0.81.
However, for the year -round record (YTD), the XRP price was found to have risen over 800% when it touched its highest level for the year, $ 1.96 on April 14th.
Perhaps the average is excited to look forward to the winning moment of the case between Ripple Labs and the Securities and Exchange Commission (SEC) that has been on trial since December 2020.
Previously, Ripple CEO, Brad Garlinghouse has expressed confidence in XRP's victory next year after it was found that the trial of the case was not biased.
Attorney John Deaton representing the amicus curiae is also confident of a victory in favor of XRP but there are several conditions that need to be met: a decision in favor of Ripple’s fair notice and a spike in asset prices to $ 5 or more.
Not sure how far Ripple’s future is but hopefully that’s fine.
