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In a noteworthy development, data from Santiment reveals that XRP is witnessing a modest but robust resurgence in its price trajectory. The recent surge of approximately 4% in XRP's value has been attributed to the concerted efforts of some of its most influential holders, colloquially referred to as "whales."
Alex DovbnyaAccording to Santiment's metrics, a total of 221 addresses, each holding an impressive 10 million to 1 billion XRP, have emerged as key players in this evolving narrative. These whales now boast a collective cache of 16.13 billion tokens, which translates to a staggering valuation of $8.71 billion.
Of particular note is the remarkable leap recorded among addresses in possession of 100 million to 1 billion XRP units, as illustrated on the chart. On Aug. 18, these deep-pocketed entities underwent an astronomical expansion, witnessing an unprecedented influx of 1.01 billion XRP tokens. This exponential surge propelled their cumulative holdings to an astonishing 11.03 billion XRP.
In contrast, the trajectory of accumulation has been notably smoother for smaller addresses, housing between 10 million and 100 million XRP units. Over the course of a recent window, spanning from Aug. 13 to the present, these investors have progressively fortified their positions, amassing an impressive 200 million tokens. As a result, their collective holdings now stand at a substantial 5.08 billion XRP.
The correlation between these accumulation trends and the token's slight price growth is unmistakable. Although the price surge may have appeared modest, hovering around the $0.43 mark per XRP, it evidently spurred the interest of significant investors. This particular price point, which was attained following a recent shakeup on the broader crypto market, seems to have garnered favor among larger investors as a relatively secure stance for risk management.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team