According to ChainCatcher, Santiment stated on the X platform that XRP has now broken through a 3-year high, reaching $1.2679 on Binance for the first time since November 11, 2021.
The rally was helped by major whale wallets holding between 1 million and 100 million tokens. In the past week alone, this group has accumulated a total of 453.3 million tokens (worth $526.3 million). At the same time, the tokens they have accumulated mainly come from retail traders who try to sell tokens when XRP sees a small rise.
Last week, wallets holding less than 1 million XRP sold a total of 75.7 million tokens ($87.9 million). Historically, when crypto traders increase their holdings and confidence, their market capitalization tends to see positive growth, while retail FUD further fuels this growth. This is exactly what happened with XRP.
