XRP whales have reached a record while the price increases by 26% in a week

The number of portfolios holding at least 1 million XRP tokens has reached a record level, coinciding with a price increase of 26% during last week.

Onchain Santiment’s analysis platform reported on Friday that the total number of these “whale” portfolios had increased to 2,743, marking a significant accumulation trend.

Santiment has stressed that not only more whales enter the market, but that the total XRP supply they control also increases, a bull-in sign for the fourth greatest cryptocurrency by market capitalization.

XRP whales control more than 47 billion tokens

The data show that portfolios holding 1 million XRP or more collectively control more than 47.32 billion tokens.

The price of XRP reached $ 2.80 at the time of writing the editorial time, according to CoinmarketCap, after a good leap of 10% in the last 24 hours.

Sudden overvoltage has wiped around $ 31.44 million in short XRP positions, as Coiinglass Data reported.

Barely a month ago, XRP had consolidated between $ 1.90 and $ 2.90 for almost 200 days, the uncertain merchants of his next move.

The recent rally aligns with an increase in the larger market, because Bitcoin has reached consecutive heights of all time, $ 112,000 Wednesday, $ 116,500 Thursday and $ 118,780 Friday.

Ethereum has also increased sharply, earning more than 17% during the week, trading nearly $ 2,960.

Santiment suggests that this strong performance on several cryptocurrencies signals the start of an Altcoin season.

“The data confirm that, for the moment, it has done it,” said the platform.

He added that as long as Bitcoin remains above the level of psychological support of $ 110,000, investors are likely to continue to transform the benefits into altcoins like XRP, supplying a market dynamic.

Last month, Ripple’s CEO Brad Garlinghouse revealed that the company would withdraw its Call to the dry, adding that the regulator should also give up its own call.

The announcement follows a decision of the American district court rejecting a joint request from Ripple and the SEC to reduce the civil sentence of $ 125 million in Ripple and cancel the decision that classified the institutional sales of XRP of RIPPLE as transactions in securities.

In her decision, judge Analisa Torres noted the provision of Ripple to “push the limits” of the previous summary judgment, suggesting a risk of future violations.

XRP Ledger deploys a new upgrade in the midst of growing interest

As indicated, Ripplex, Ripple’s development arm, has deployed version 2.5.0 of the large XRP book, introducing several protocol upgrades aimed at strengthening the features and safety of the network.

The engineer of Ripplex Mayukha Vadari called the upgrade “perhaps the best unique range of modifications” never published, introducing significant improvements to the management of tokens and the treatment of transactions.

Amendment XLS-85 improves the whole system by granting tokens issued by third parties, including stablecoins, and introduces versatile tokens designed for institutional applications.

The new update has occurred after the major XRP book recorded an increase in user activity, the number of daily active addresses from an average of 35,000 to more than 295,000.

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