XRP Whales Drive 235% Volume Surge as Accumulation Hits 662 Million Tokens, Price Rebounds
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XRP buy volume surges 235% as wallets holding 1M-10M XRP tokens accumulate 662.4M coins, marking a 10.4% rise in August.XRP rebounds to pre-crash levels, trading at $0.5703, despite a 4.31% drop in 24 hours, fueled by whale accumulation.
Social dominance of XRP hits a 7-month high, reflecting increased community interest and engagement following a favorable legal ruling.XRP has witnessed a notable increase in buy volume, surging over 235% within the last 24 hours. This surge coincides with increased activity among large holders, particularly wallets containing between 1 million and 10 million XRP tokens.
These wallets have collectively accumulated 662.4 million additional tokens in August, marking a substantial 10.4% rise. This accumulation indicates a big buying trend among large holders, often referred to as whales and sharks.
Price Recovery and Whale Activity
The recent activity among large holders aligns with a strong recovery in XRP’s price. The cryptocurrency’s value has rebounded to pre-crash levels last seen in July. At press time, XRP was trading at $0.5703, down by 4.31% in the last 24 hours but up 8.86% over the last week.
The price fluctuation reflects a low of $0.494291 and a high of $0.63883, with a closing price of $0.63127. The market cap of XRP stands at $32 billion, representing a 4.31% decrease, while the 24-hour trading volume has dropped by 8.95% to $1.05 billion.
