The recent price movement of XRP has caught the attention of crypto whales, who have been actively accumulating the digital asset amidst its fluctuations.
Over the past week alone, these whales have acquired more than 31 million XRP tokens, signaling a bullish sentiment in the market.
Currently trading at $0.544, XRP has outperformed many other altcoins, experiencing a notable 6% jump and reaching as high as $0.5687 today. This surge in price underscores growing investor confidence in the asset, potentially indicating a shift in market dynamics.
$XRP dropped from $0.62 to $0.41, and #crypto whales took notice. They've bought over 31 million #XRP in just the past week! pic.twitter.com/3FCA3PR3hi
— Ali (@ali_charts) April 23, 2024
A significant development in the XRP ecosystem is the increasing number of wallets holding at least 1 million XRP tokens. This metric has seen a steady uptick over the past six weeks, rising by 3.1%. Remarkably, the current count of such wallets stands at 2,013, just one shy of the all-time high recorded on June 17, 2023.
XRP Wallets With 1 Million Tokens Makes Massive Recovery In Number
This trend highlights a growing interest among investors and stakeholders in XRP, with many opting to hold substantial amounts of the digital currency in their wallets. The near-attainment of the previous all-time high in the number of large XRP holders further reinforces the positive sentiment surrounding the asset.
Comparing the current scenario to historical milestones, it’s noteworthy that XRP wallets holding 1 million or more coins reached their peak on June 17, 2023, with a count of 2,014. Fast forward to April 22, 2024, and the number of such wallets is on the cusp of matching this record, with 2,013 wallets currently in existence.
🐳 The price of #XRP has jumped ahead of the #altcoin pack, jumping +6% and as high as $0.5687 today. The amount of wallets, 2,013, holding at least 1M $XRP has been surging over the past six weeks (rising 3.1%), and is within 1 wallet of the #AllTimeHigh. https://t.co/2ZfC9v79x9 pic.twitter.com/rqKgcOYJJx
— Santiment (@santimentfeed) April 22, 2024
Overall, the recent surge in XRP’s price, coupled with the increased accumulation by crypto whales and the impending milestone in wallet counts, paints a promising picture for the future trajectory of the digital asset.
As market participants continue to monitor these developments closely, XRP remains poised for further growth and potential milestones in the days ahead.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: iuriimotov/123RF // Image Effects by Colorcinch
