XRP whales drive trading volume surges 235%, holdings increase to 662 million tokens, price rebounds
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XRP purchases surged 235%, up 10.4% in August, as wallets holding between 1 million and 10 million XRP tokens increased their holdings by 662.4 million tokens. Despite falling 4.31% in 24 hours, XRP price rebounded to pre-crash levels, trading at $0.5703, driven by whale accumulation.
XRP’s social media popularity reached a seven-month high, reflecting increased community interest and engagement following the favorable legal ruling. XRP buying volume has increased significantly in the past 24 hours, surging by more than 235%. This surge coincides with increased activity from large holders, particularly those wallets holding between 1 million and 10 million XRP tokens.
Together, these wallets accumulated 662.4 million tokens in August, an increase of 10.4%. This accumulation indicates a trend of big buying among large holders, often referred to as whales and sharks.
Price recovery and whale activity
Recent activity by large holders is consistent with the strong recovery in XRP price. The cryptocurrency’s value has rebounded to pre-crash levels in July. At press time, XRP was trading at $0.5703, down 4.31% in 24 hours, but up 8.86% over the past week.
Price fluctuations showed a low of $0.494291, a high of $0.63883, and a closing price of $0.63127. XRP’s market capitalization reached $32 billion, down 4.31%, while 24-hour trading volume fell 8.95% to $1.05 billion.
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