XRP Barely Moves on Ripple OCC Approval As Whales Hold 68.5%
XRP saw minimal price movement following Ripple's OCC approval, while whale addresses maintained control over a significant portion of the token supply.
The price of XRP showed little movement following news of a Ripple OCC approval, according to a report published by Cryptonews. Market observers noted that whale addresses continue to exert substantial dominance over the asset, controlling 68.5% of the total token supply.
Market Response
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Despite the regulatory development involving the Office of the Comptroller of the Currency, the token's market price remained relatively static during the session. Analysts attribute the subdued price action in part to the concentrated distribution of tokens among large holders.
Key facts
- Asset: XRP
- Whale Concentration: Whales control 68.5% of the total token supply
- Driver: Ripple OCC approval
Source: news.google.com
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