In August, large-scale investors significantly boosted their holdings of Cardano and XRP, despite recent market downturns. XRP holders accumulated an extra 300 million tokens, demonstrating strong demand.
The market is affected by macroeconomic conditions, such as anticipated Federal Reserve interest rate cuts and the ongoing resolution of the Russia-Ukraine conflict, which could impact future cryptocurrency performance.
In the past 24 hours, Cardano dropped by 6.2% while XRP fell 3.7%. XRP has a year-to-date return of approximately 15%, supported by positive regulatory outcomes like the conclusion of the SEC vs. Ripple lawsuit.
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