Whales in the cryptocurrency market continue to increase their holdings and accumulate. The whales, which are in an important position for the market and mobilize the crypto market, started to accumulate large amounts of crypto money. Actively accumulating BSC whales hold 18 million worth of XRP in their wallets.

BSC Whales Accumulate XRP

According to WhaleStats data, which tracks whales with large wallets in the ecosystem, the top 500 BSC whales currently hold $18,030,448 worth of XRP in their wallets. The XRP token wrapped in the BNB chain has become one of the most important assets held by the whale group.

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Cryptocurrencies, which have been on the decline for some time, have shown slight signs of recovery over the past week. XRP soared as much as 16 percent on June 24.

Ripple is making new location plans in case of losing the SEC case

While the lawsuit filed by the US Securities and Exchange Commission for the alleged illegal sale of securities has been pending for 1.5 years, Ripple CEO Brad Garlinghouse announced that the company could relocate from the United States.

In December 2020, the SEC sued Ripple and its two executives, alleging that the company was selling illegal securities while issuing XRP. With the lawsuit taking much longer than expected, Ripple began exploring different options.

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Brad Garlinghouse voiced his complaints about the SEC placing inconsistent regulations on crypto companies across the country. According to Garlinghouse, San Francisco-based Ripple Labs is ready to move overseas if it loses its case with the SEC.

Ripple announced last week that it has opened a new branch in Canada. The Toronto office forms part of the company's goal of promoting crypto-related innovations across Canada. Shortly after the announcement, Ripple confirmed that it will be working with at least 50 software engineers for its Canadian branch.