The number of XRP 'whales' has fallen since the SEC filed suit against Ripple
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.
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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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