Nearly $1B In XRP Accumulated By Whale Investors In Under 3 Months
Over the past several weeks, in the face of market corrections and geopolitical upheaval, XRP whales have been inhaling the digital token accumulating nearly $1 billion worth of XRP in under three months.
By Andrew Senior
February 23rd, 2022
Santiment, a behavior analytics platform with the goal to eliminate information asymmetry in the crypto ecosystem, has observed that addresses holding roughly 10 million XRP coins or more have been actively adding to the size of their holdings giving XRP the second-largest accumulation spree within the past five years with whales picking up nearly 900 million tokens worth over $690 million from December 2021 to February 18.
The recent accumulation from XRP whales has come at a time when the token has been struggling to find footing, slipping below $1.00 and off its all-time high of $3.84 by more than 75%.
Whales have taken advantage of a rough start to 2022 for cryptocurrency prices after the asset class set fresh highs in the last quarter of 2021, gobbling up undervalued assets and adding to their hoards. In contrast to the recent static price action for XRP, on-chain metrics point to an underlying bullish sentiment that may soon move the price higher and ignite a renewed bull market for the token.
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