The Block • January 5, 2021, 5:09PM EST
UPDATED: January 5, 2021, 4:11PM EST

The number of XRP 'whales' has fallen since the SEC filed suit against Ripple

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The Block

The number of addresses holding in excess of 1 million XRP — a signifier of so-called "whales" with significant asset holdings — has fallen more than 8% in the past two weeks.

According to new data from Coin Metrics, as of yesterday, the number of addresses with that amount held fell from 1,705 as of December 22 to 1,562 as of Monday. On December 22, the U.S. securities regulator charged Ripple and two of its senior leaders. 

Many crypto exchanges such as Coinbase, Binance.US, OKCoin, and Bittrex have moved to delist or suspend trading of XRP.