Categories: Crypto

XRP is Being Accumulated as Price Remains Below $0.2

The individual number of holders of a specific crypto asset or financial instrument will always be of interest to onlookers. When it comes to XRP, it seems as if there is some whale-like action going on right now. 

Not everyone cares much for XRP, primarily because parent company Ripple is targeting the financial industry.

Who is Buying up XRP? 

For quite some time now, there have been concerns as to whether XRP is a security.

For now, the answer to that question is negative, but it will remain a point of debate for the future.

A chart created by Santiment shows that the number of people owning big stacks of XRP is on the rise.

There are now more addresses holding 10 million XRP or more than ever before. 

Related Post

Nearly 500 people own at least $2 million of this asset, although these will include Ripple’s own wallets, obviously.

Others may depict exchange balances, rather than individual users.

What this means for the future XRP value, is a tough question to answer.

Less liquidity should help catapult the price in an upward direction.

Markets aren’t always rational, however, thus anything can happen to Ripple’s native asset.

For now, the price won’t rise above $0.2, which makes a lot of holders rather twitchy. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Smart Traders Pile Into $MOG As Token Continues To Break All-Time Highs

In the ever-dynamic world of cryptocurrency, $MOG has been a standout performer, breaking its previous…

4 hours ago

Tether Treasury Mints 1B USDT As Whales Inject 278.7M Into Crypto Market

Yesterday, the Tether Treasury minted another 1 billion USDT on the Tron Network, marking the…

4 hours ago

Real World Assets In DeFi Reach $3.89 Billion TVL, Marking Major Milestone

As of July 2024, the Total Value Locked (TVL) for Real World Assets (RWA) in…

4 hours ago

Ethena Protocol Surges In Stablecoin Supply And User Adoption

The Ethena protocol has experienced impressive growth in 2024, particularly in the supply of its…

4 hours ago

DeFi Blue Chips Poised For Breakout Despite Record Low Valuations

Despite lagging in 2023, DeFi 1.0 assets are now positioned for a significant breakout. DeFi…

4 hours ago

MOONHOP’s Presale Skyrocket | Shiba Shootout Value | Bonk Investors’ Moves

Best Meme Coin Gainer: MOONHOP's Presale Skyrockets, Attracting Bonk Investors While Shiba Shootout’s Value Soars…

10 hours ago