Whales Accumulate 140 Million $XRP Amid Settlement Speculation

Increased Crypto Adoption in US Elections

The ongoing U.S. elections have accelerated crypto adoption, with political figures recognising the significance of the 50 million voters involved in the digital asset sector. The recent approval of spot Ethereum ETFs in the U.S. is seen as a step towards normalising the altcoin market, suggesting a potential easing of the U.S. SEC’s stringent enforcement against the crypto industry.

Ripple’s Legal Status

Ripple Labs has been actively seeking clear regulatory guidance from the U.S. Congress to maintain its competitive edge globally. The company’s legal battle with the SEC has brought substantial clarity for XRP holders. Last year, Judge Analisa Torres ruled that XRP sales on crypto exchanges do not qualify as investment contracts and, therefore, are not subject to securities laws.

The Ripple community anticipates a resolution to the lawsuit by the end of this year. The SEC has proposed a settlement of approximately $102 million for alleged securities law violations related to XRP sales to institutional investors.

Surge in Whale Activity

Recent data from Santiment indicates significant whale activity, with over 140 million XRP—worth around $84 million—being moved from centralized exchanges to unknown addresses. This accumulation by large investors is seen as a bullish signal.

XRP Price Trends

XRP has experienced a notable increase in price over the past three weeks. The altcoin, which has a fully diluted valuation of approximately $60 billion and a daily trading volume of about $2 billion, has surged more than 40% to approximately $0.605 as of Tuesday.

If XRP consistently trades above $0.60 in the coming weeks, it may be well-positioned to reach the psychological target of $1.