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XRP Whales Accumulating Billions of Tokens as XRP Price Surges Green

Mon, 08/21/2023 - 08:44
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Gamza Khanzadaev
Billions of XRP on move as big players are secretly accumulating
XRP Whales Accumulating Billions of Tokens as XRP Price Surges Green
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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."

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According 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.

Source: Santiment

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.

XRP Outperforms Shiba Inu, Ethereum and Cardano with 10% Price Spike

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.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.