XRP has outperformed Bitcoin (BTC), continuing the upward trend of the sixth-largest cryptocurrency, according to cryptocurrency analytics firm Santiment.
analysis company To tell The XRP/BTC pair has reached its last reached price in September 2021 as crypto sharks and whales accumulate XRP.
Santiment said the surge in XRP’s price was driven by hopes of a possible settlement of the lawsuit filed against Ripple by the U.S. Securities and Exchange Commission (SEC) in December 2020.
“The XRP/BTC price ratio hit a one-year high of 0.000025 BTC. [$0.48] Continuing optimism about a possible Ripple settlement with the SEC. Active shark and whale addresses holding 1-10 million XRP have been in an accumulation pattern since late 2020. ”
XRP is trading at $0.51 at the time of writing, up 20% in the last 24 hours and up 55% in the last 7 days.
Looking to the broader crypto market, Santiment To tell Large holders of the Tether (USDT) stablecoin are increasing their holdings of digital assets following the recession earlier this year.
“Purchasing power is slowly recovering among large USDT addresses as stocks prepare for further rate hikes and cryptocurrencies remain volatile. Addresses worth between $100,000 and $10 million are We added 1.12% of total supply to the bag, up 4.03% in the last seven weeks.”
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