Summary
- XRP has decoupled from other altcoins and broke the $2.5 resistance line in 12 days, according to Santiment.
- Wallets holding at least 1 million XRP currently maintain 46.4 billion, marking a 6.5% increase in the last two months.
- The price surge is directly related to the SEC's withdrawal of its appeal against Ripple, which was assessed as an 'overwhelming victory' for the cryptocurrency community.
XRP is showing a decoupled movement from other altcoins.
On-chain analysis platform Santiment announced on the 20th via its official X account that "XRP has broken the $2.5 resistance line for the first time in 12 days," and described it as "a decoupled appearance from the altcoin group." Santiment stated, "Wallets holding at least 1 million XRP currently possess 46.4 billion XRP," adding, "This is a 6.5% increase in just the last two months."
Santiment emphasized the recent price surge and its connection to the U.S. Securities and Exchange Commission (SEC). Santiment noted, "This surge is directly related to the SEC officially withdrawing its appeal against Ripple," and "Brad Garlinghouse, Ripple CEO, assessed the withdrawal of the appeal as an 'overwhelming victory' for the cryptocurrency community."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
