Whales Accumulate 600M XRP Tokens Amid CLARITY Act Hopes

Large holders of XRP have been busy lately. Data shows that shark and whale wallets have added 600 million tokens to their holdings over the last five weeks. This massive accumulation suggests that big players are betting on positive movement for the asset despite the broader market fluctuations.

The buying spree comes as optimism grows regarding the CLARITY Act. Investors are keeping a close watch on the United States Senate, hoping for a vote before the scheduled August recess. If the bill advances, it could shift the regulatory landscape for Ripple and provide more certainty for the project moving forward.

As of July 23, the price of XRP sits at $1.13 after a daily decline of 1.73 percent. Traders are currently balancing this short term price dip against the long term signal sent by the significant whale activity. Monitoring the legislative calendar will be key for anyone tracking the next potential price swings for the asset.