Gus – Cryptocurrency Expert
Whales owning between 1 million and 10 million ripples (XRP) have been frantically accumulating the cryptocurrency. With 6.12 percent of all XRP, these whales now possess the biggest percentage of the asset's supply in two months, making them the most active tier of non-exchange holders.
The latest crypto market crisis put a lot of pressure on XRP, which saw its price drop by more than 50% in only two months. However, a recent announcement by Ripple's CEO, Brad Garlinghouse, has sparked a buying frenzy among XRP whales.
In an interview with CNBC in Davos, Switzerland, the CEO stated that when the long-running Ripple-SEC dispute is resolved, the company will consider conducting an IPO.
XRP is a cheap cryptocurrency and now is placed seventh in terms of market value on CoinMarketCap's list of the largest crypto projects. In the last 24 hours, the price of XRP has dropped 2.54 percent to $0.3223. The coin's entire market capitalization is $15.97 billion.
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