XRP Whales Control 70% of Supply: Is Price Preparing for a Strong Start?

XRP surged above the $1.50 level, driven by increased buying by major investors and new developments in U.S. legislation to regulate digital currencies.

Santiment data shows that wallets holding more than 10 million XRP currently control about 68.5% of the total circulating supply, totaling 45.8 billion XRP and worth about $68.5 billion, which is the highest concentration level for whales in eight years.

Observers believe that this accumulation reflects strong bets on XRP’s future by large investors, especially after the U.S. Senate Banking Committee passed the Clarification Act bill with a partisan majority, which restored optimism about the regulatory environment for digital currencies.

After the vote, XRP rose more than 7% to $1.54, its highest level since March last year, before falling to around $1.44.

ETFs related to XRP also saw strong investment inflows of $18.5 million in one day, outperforming Ethereum and Solana funds, indicating growing interest in the digital currency from institutional investors.

On the other hand, leverage levels on the Binance platform rose to the highest level in two months, which means the market has become more sensitive to large increases or decreases in the coming period.

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