Large XRP wallets inccreased their holdings by around 6.5% in the two months leading up to the announcement that the SEC had dropped its appeal against the company. This period also saw a sixfold increase in unique wallet activity on the Ripple network, which contrasts wit user outflows on other blockchains. Some are of the opinion that the XRP token might as well be shorted, given that a lot of the catalysts for a positive price move have already happened.
Source: George Georgiev, 2025-03-22; https://cryptopotato.com/ripple-news-today/