In a move that defied recent market trends, the XRP is seeing a significant surge, driven by the accumulation of large wallets and a significant increase in network activity.
In addition, positive news for the ecosystem has led to a rise of over 7% in the price of the cryptocurrency today alone.
Amidst the scenario, the cryptocurrency XRP is attracting attention for a impressive increase in its value since yesterday after the closure of the US Securities and Exchange Commission (SEC) and Ripple Labs lawsuit.
The news had a strong impact on XRP, which rose another 14%, managing to break the $2.50 resistance for the first time in the last 12 days, as observed the Santiment platform.
Furthermore, another driver of XRP’s growth is the accumulation of large wallets.
Recent data from Santiment reveals that wallets with at least 1 million XRP currently hold 46.4 billion coins, an increase of 6.5% in the last two months. This accumulation indicates strong confidence among large investors in the cryptocurrency’s potential.
XRP has decoupled from the altcoin pack, surging another +14% and breaching the $2.50 resistance for the first time in 12 days. Wallets with at least 1M $XRP now hold 46.4B coins, as they have accumulated 6.5% more in just the past 2 months alone. Address activity also has…
– Santiment (@santimentfeed) March 19, 2025
In addition to the accumulation of large wallets, XRP network activity has also seen a significant increase this month.
This increase in activity indicates increased interest and adoption of XRP, which could further fuel its growth.
“XRP has broken away from the altcoin pack, rising another +14% and breaking above the $2.50 resistance for the first time in 12 days. Wallets with at least 1M $XRP now hold 46.4B coins, having accumulated 6.5% more in the last 2 months alone. Address activity also exploded in the month of March, seeing approximately 6x more unique wallets interacting on the network in March compared to previous months,” he highlighted.
XRP’s recent surge has seen it rise to third place in the overall cryptocurrency rankings, surpassing cryptocurrency giant Tether (USDT).
XRP’s market cap currently stands at $144.6 billion, while USDT’s is $143.5 billion.
At the time of publication, XRP’s price was trading at $2.49, up 7.1% in the last 24 hours.
The recent rally brought the asset’s weekly gains to 10%.
SEC vs XRP Final Decision: Lawsuit Closed Says Ripple CEO
The United States SEC withdrew Ripple has filed its lawsuit against XRP after years of legal battle, which caused huge losses to XRP holders. Ripple CEO Brad Garlinghouse has confirmed the end of the lawsuit.
Following the news of the final decision in the SEC vs XRP lawsuit, the price of XRP, which was trading at $2.35, jumped to $2.57, up 15% in the last 24 hours.
“I can finally announce that this case is over. It’s over,” Ripple CEO Brad Garlinghouse said in an emotional speech broadcast via video. He reflected on the start of the litigation four years ago, saying with conviction that “this case was doomed from the start.”
Recently, there were reports that the United States Securities and Exchange Commission (SEC) was reconsidering the classification of Ripple’s digital token XRP as a commodity.
This potential change comes after a detailed analysis of XRP’s functionalities and market characteristics, placing it on par with Ethereum, which the SEC has already categorized as a commodity.