thecryptobasic.com
XRP recently flipped Aave (AAVE) to secure the top position amid the latest market-wide rally.
XRP is currently the most traded token among the top 100 Binance Smart Chain whales after overtaking Aave (AAVE) in the early hours of Tuesday. The achievement came amidst significant developments surrounding the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).
WhaleStats, a top whale-tracking platform, called attention to the impressive feat through a tweet as XRP surged back above the $0.35 territory. “JUST IN: XRP flipped AAVE for MOST TRADED token among top 100 BSC whales,” the tweet reads.
📰 JUST IN: $XRP @Ripple flipped $AAVE for MOST TRADED token among top 100 #BSC whales
Check the top 100 whales here: https://t.co/0SYnjw0xQs
(and hodl $BBW to see data for the top 4000!)#XRP #AAVE #whalestats #babywhale #BBW pic.twitter.com/MhK4A1ATd3
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 10, 2023
In addition to the previously-mentioned achievement, XRP was also listed among the top 10 most purchased tokens by the top 2,000 BSC whales in the past 24 hours along with other tokens such as CAKE and ADA. Furthermore, WhaleStats revealed that up to 2% of the total cumulative holdings of the top 1,000 BSC whales are in XRP, as they collectively hold $25.1M worth of the asset.
Moreover, The Crypto Basic previously highlighted a surge in XRP trade volume on Binance, as the asset became the fifth most traded token on the exchange, only below Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Gala (GALA). At the time, XRP’s trade volume within the last 24 hours was $72.8M.
The volume has increased to $75.7M as of press time, and while the asset has overtaken SOL, it remains in the fifth position due to ApeCoin’s recent rise to third.
These metrics suggest a renewal of interest among large investors, especially at a time when the markets are witnessing a sustained relief rally. The latest updates on the legal tussle between Ripple and the SEC have also contributed to the rejuvenation of investors’ interest, evidenced by the increase in whale activity.
XRP Price Analysis
Meanwhile, the asset has leveraged the latest market-wide rally to recapture the much-coveted price point at $0.35. XRP is now comfortably trading above the level, as it changes hands at $0.3619 at the time of reporting, having towered over the first and second crucial resistance levels at $0.3556 and $0.3605 respectively.
With a gain of 4.12% in the past 24 hours, XRP is the biggest gainer amongst the top 70 assets within the time frame, bucking the trend at a time when the markets are facing rejection. Notwithstanding, if the bears hit and the asset falls below $0.3493, investors could see a dip to its major support levels.