Ripple Vs SEC Lawsuit Conclusion Spurs Speculation as XRP Wallet Counts Show Promising Growth

The post Ripple Vs SEC Lawsuit Conclusion Spurs Speculation as XRP Wallet Counts Show Promising Growth appeared first on Coinpedia Fintech News

In a recent YouTube video by Cheeky Crypto, the impending conclusion of the SEC vs. Ripple lawsuit has sparked anticipation among investors, leading to a wave of speculation in the market. The combination of on-chain data, increasing wallet counts, and the potential resolution of the legal battle has created a buzz of excitement.

Cheeky Crypto focused on the significance of liquidations, shedding light on the exchanges where they have taken place. This data indicates the impact of trading activity and adds to the growing anticipation surrounding the lawsuit’s outcome.

XRP Wallet Count Spike

Another significant aspect highlighted by the host was the growth in the number of wallets holding different amounts of XRP. Notably, there has been a substantial increase in the number of wallets containing 1 million XRP or more. This surge suggests significant accumulation by large investors, which is viewed as a positive sign for XRP’s future.

According to the data shared, there are currently over one million XRP tokens, and they have experienced a remarkable increase of 14.29% over the past year. To put this growth into perspective, a year ago, there were only 1,862 wallets holding 1 million XRP or more. However, this number has now risen to 2,128 wallets, indicating an impressive growth rate.

While there hasn’t been substantial growth in the last 180 days (2.46%) or the last 90 days (1.67%), the overall trend shows consistent growth. Over the past seven days, there has been a modest growth rate of 0.09% and over 30 days, the increase has been 1.29%.

However, the most significant growth was observed over the past 365 days, with a remarkable 14.29% surge. This data suggests that more individuals are acquiring 1 million XRP or more, indicating a positive trend in XRP ownership.

The combination of increasing wallet counts and the ongoing legal battle’s potential resolution has fueled optimism among investors. While it remains to be seen how the Ripple lawsuit will conclude, the current market trends and growing XRP ownership by large investors have certainly generated excitement and speculation surrounding the future of the digital asset.