XRP investors are savoring the benefits of this bullish cycle, which took the Cryptocurrency‘s price to levels not seen 6 years ago.
The dizzying growth that the currency issued by Ripple Labsallowed it to position itself as the third most valuable in the market, with a value that exceeds 146,000 million dollars.
To reach this stage, XRP had to go through a long road that spanned years and included a judicial dispute between the company issuing the asset and the United States Securities and Exchange Commission (SEC).
However, the Donald Trump’s victory in the United States presidential election, sparked enthusiasm in the digital asset market and, thanks to this, XRP is experiencing a rebirth of sorts. Or, as it says analyst Marija Maticthe resurgence of the “dinosaur cryptocurrencies”, which due to their longevity and trajectory, are experiencing a resurgence driven by renewed institutional interest.
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Currently, the price of XRP is above $2.54, representing a weekly rise of 73%.
XRP price throughout its history. Source: TradingView.
In the midst of the great moment that XRP is going through, the question arises: Who are the ones who are really betting on this cryptocurrency?
One of the names that stands out on this list is Chris Larsen, co-founder and former CEO of Ripple. According to the data of the XRP Scan explorerLarsen has six addresses totaling 2.9 billion XRPequivalent to 7.25 billion dollars.
Then it appears Arthur Britto, co-founder of Ripple Labs who had a key role in the development of the cryptocurrency. Currently, it has seven active addresses that accumulate 1.2 billion XRP, valued at more than $3 billion.
At the top of the list appears a anonymous address with more than 500 million XRP, equivalent to 1,253 million dollars. Ripple LabsMeanwhile, it accumulates 48 billion XRP in deposit, 115 billion dollars.
Binance, the largest exchange in the world, has a total of $3 billion, distributed across 14 addresses of your clients.
It is worth noting that Ripple Labs CEO Brad Garlinghouse could also be one of the largest holders of XRP. However, there are no great details on how many assets it owns. According to him Live XRPL explorerthe businessman has 842 XRP at one address, valued at $2,118, a really low figure compared to the billions of XRP.
Brad Garlinghouse, CEO of Ripple. Source: Wikipedia.
Another issue to take into account is that the companies that have invested in Ripple projects such as Andreessen Horowitz, IDG Capital Partners, and Blockchain Capital, are not listed in the explorers mentioned above.
Although large investors are celebrating the fruit of their patience, there are enough reasons to believe that the asset’s good times could last for a while longer.
In principle, this optimism is based on Gary Gensler’s imminent resignationcurrent head of the SEC.
Bitcoin.com/zh/sec-yuji-jiang-chexiao-ripple-xrp-susong-qian-jianguan-jigou-yujian-jiamihuobi-youhao-de-zhuanbian/” target=”_blank” rel=”noreferrer noopener”>Chris Giancarloformer president of the Commodity Futures Trading Commission (CFTC), assured that he would bet that, with Gensler’s departure, the body will dismiss the lawsuit against Ripple.
Likewise, a favorable regulatory environment would be key to accelerate the launch of XRP spot exchange-traded funds (ETFs) in the United States. In this way, the asset would have exposure among large investors.
If the aforementioned lawsuit is dismissed, It would be very likely that these investment products receive the green light and reach the market.
As CriptoNoticias already reported, the companies Canary Capital, Bitwise, WisdomTree and 21Shares submitted applications for their XRP-based investment products.
Finally, we cannot ignore that Ripple is about to launch RLUSDyour new stablecoina step that will further strengthen its role as a key player in the institutional market.
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