XRP is the best-performing asset in the crypto top 50 by market capitalization, with a gain of more than 13% on the day. As a result, the cross-border payment token reached an intraday high of $2.87 during trading in Asia on Wednesday morning.
XRP has neared its peak from this cycle, which was close to a 7-year high and is currently around 17% away from its all-time high, following a slight pullback to $2.80 at the time of writing.
Over the past fortnight, XRP has gained around 33%, while the rest of the altcoins have lost ground.
On Jan. 15, Santiment reported that the move was being supported by “continued enormous accumulation from wallets holding 1 million to 10 million XRP.”
These whales own over 37% more coins than they did two months ago, it added before stating that this equated to approximately $3.8 billion in XRP added since their accumulation began on November 12.
In a separate post on X on Jan. 15, Santiment said that there was increased optimism over the asset’s potential use in banking and financial transactions before adding:
XRP’s market capitalization is currently $160 billion, which ranks it third among all crypto assets but still a long way behind Ethereum and Bitcoin.
Nevertheless, the Securities and Exchange Commission has refused to postpone the filing of a brief as part of the agency’s appeal of a judgment against the fintech firm.
Ripple’s chief legal officer Stuart Alderoty said it was a “waste of time and taxpayer dollars” since Gary Gensler’s war on crypto was ending with him stepping down next week.
Ripple CEO Brad Garlinghouse concurred, adding that Gensler was “very much on brand” and fully committed to his “failed regulation-by-enforcement agenda to the bitter, bitter end.”
Dogecoin (DOGE) was also performing well, with a 5% gain to top $0.36, while Cardano (ADA) made 6% on the day to reclaim the $1 level. Meanwhile, Ripple sibling Stellar Lumens (XLM) spiked 8% to tap $0.47.
AI-related tokens got a boost from a recent report by Franklin Templeton, predicting that AI agents would revolutionize social media content generation this year.
The post XRP Nears ATH Levels: Just 17% Away Amid Whale Accumulation and SEC Resistance appeared first on CryptoPotato.
XRP has neared its peak from this cycle, which was close to a 7-year high and is currently around 17% away from its all-time high, following a slight pullback to $2.80 at the time of writing.
Over the past fortnight, XRP has gained around 33%, while the rest of the altcoins have lost ground.
XRP Whales Accumulating
On Jan. 15, Santiment reported that the move was being supported by “continued enormous accumulation from wallets holding 1 million to 10 million XRP.”
These whales own over 37% more coins than they did two months ago, it added before stating that this equated to approximately $3.8 billion in XRP added since their accumulation began on November 12.
In a separate post on X on Jan. 15, Santiment said that there was increased optimism over the asset’s potential use in banking and financial transactions before adding:
XRP’s market capitalization is currently $160 billion, which ranks it third among all crypto assets but still a long way behind Ethereum and Bitcoin.
Nevertheless, the Securities and Exchange Commission has refused to postpone the filing of a brief as part of the agency’s appeal of a judgment against the fintech firm.
Ripple’s chief legal officer Stuart Alderoty said it was a “waste of time and taxpayer dollars” since Gary Gensler’s war on crypto was ending with him stepping down next week.
Ripple CEO Brad Garlinghouse concurred, adding that Gensler was “very much on brand” and fully committed to his “failed regulation-by-enforcement agenda to the bitter, bitter end.”
Other Altcoins Outperforming
Dogecoin (DOGE) was also performing well, with a 5% gain to top $0.36, while Cardano (ADA) made 6% on the day to reclaim the $1 level. Meanwhile, Ripple sibling Stellar Lumens (XLM) spiked 8% to tap $0.47.
AI-related tokens got a boost from a recent report by Franklin Templeton, predicting that AI agents would revolutionize social media content generation this year.
The post XRP Nears ATH Levels: Just 17% Away Amid Whale Accumulation and SEC Resistance appeared first on CryptoPotato.
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