XRP has been on a winning streak lately.
According to CoinMarketCap, the cryptocurrency has been beating Bitcoin and several other altcoins over the last week.
CoinMarketCap data even shows that XRP Price surged by an impressive 23% over the last week.
When this is considered around the growing interest from whales, sharks and shrimps, we can see that XRP has been one of the best-performing cryptocurrencies this week, based on several metrics.
Ripple is doing much better, compared to other top 10 cryptocurrencies by market cap.
Bitcoin (BTC) and Ethereum (ETH) for example, have been stuck in consolidation phases for more than a week now, and have seen relatively minor price movements.
Compared to all of the others, XRP Price has surged by an impressive 23% over the past week, overshadowing several other top cryptocurrencies.
Even BNB's notable 7.6% gain is nowhere near XRP's remarkable leap. This implies that there might be more to come for the cryptocurrency.
A new tweet from Santiment shows something quite interesting.
Santiment says that the number of whale addresses (holding between 100,000 and 1 billion XRP) has now reached its highest level in 2023.
But what does this tell us?
We can conclude that the whales are becoming more confident in the future of XRP.
Santiment also says that the number of wallets holding at least 10,000 XRP tokens has hit 277,620.
This marks a new all-time high according to Santiment, and indicates that more and more people are becoming bullish on the cryptocurrency.
WhaleAlert also weighed in on the conversation.
According to a tweet from the whale activity monitoring platform, on 5 November, Nov. 5, an impressive 23.8 million XRP ( with approximately 15.6 million dollars) was also transferred from an unknown wallet into Bitstamp
Throughout the year, sentiment has been one of the biggest driving factors of XRP's growth.
And as it turns out, XRP has had plenty of positive developments recently.
In a new tweet, Ripple's chief legal officer, Stuart Alderoty, mentioned another victory Ripple has scored against the regulator recently.
According to Alderoty, the U.S. Court of Appeals for the Second Circuit ruled that the SEC cannot request a substantial disgorgement award without first demonstrating actual financial harm to "investors".
This sounds like a mouthful. Let's break it down:
In essence, what Alderoty means is that if Ripple did no harm, then it deserves no penalty.
This directly contradicts what the SEC is fighting for, because the regulator is seeking the return of the "ill-gotten gains" that Ripple and its executives made from "selling" the cryptocurrency as a "security".
In essence, if the SEC cannot prove that XRP investors suffered any harm, it has no case in court.
Meanwhile, Judge Torres has recently approved the SEC and Ripple's joint request for a briefing schedule. Torres instructed the SEC and Ripple to agree on a date no later than Nov. 9.
Recall when Judge Torres ruled that XRP was not a security? Ripple's "partial victory" was widely publicized as a 50-50 win, where both parties won and lost at the same time.
However, according to Attorney John Deaton, the win was less of a 50-50 and more of a 90-10, where the SEC drew the short straw.
Deaton replied to Stuart Alderoty's "no harm, no penalty" tweet, and stated that even if Ripple was compelled to pay about $20 million in fines, it would still constitute a 99.9% legal win for the company.
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