After facing heavy selling pressure last week and slipping under $0.50, Ripple’s native crypto XRP showed signs of healthy recovery during the weekend. As of press time, XRP is trading 1.68% up at a price of $0.5299 and a market cap just above $28 billion.
XRP whales are back into action while accumulating the dips. The XRP Network is exhibiting subtle indications of recovery, and the current 4% increase in price seems to be backed by several prominent XRP holders.
Among these are 221 addresses that possess a substantial amount of XRP, ranging between 10 million to 1 billion tokens. Collectively, these addresses now hold 16.13 billion tokens, valued at approximately $8.71 billion.
Last week, Ripple’s XRP came under major selling pressure since the SEC submitted an interlocutory appeal in the XRP ruling. Interestingly, in their court filing last Friday, the SEC left a hint that XRP could be a non-security.