XRP price is having a shaky start to the year 2023 after a sharp drop on Monday during Asia hours. The digital asset eventually recovered but it remains shaky even now a new report from Santiment shows that there could be a bull case for the cryptocurrency. This bull case is tied to large XRP holders who have been accumulating coins over the past six months.

One thing that XRP holders have to take into account is the Securities and Exchange Commission’s lawsuit against Ripple. This case is yet to be concluded and it continues to put a damper on the price of XRP. To know just how much of an effect it had, while most cryptocurrencies in the market were hitting new all-time highs, XRP’s price had declined, unable to even reclaim its own all-time high price from 2018.