With a $380 million purchase, Ripple whales continue their accumulation spree; will XRP surge?


In less than a week, XRP whales have amassed more than 380 million tokens, a tremendous accumulation frenzy.

Their action indicates that they are enthusiastic on the digital asset's near-term prospects.

Big investors have been steadily growing their XRP holdings in the last few weeks, according to on-chain data from analytics company Santiment. This indicates a significant increase in whale holdings.

It is possible that whale behavior and market value are correlated, as this accumulation pattern is quite similar to XRP's price swings. The crypto world is going crazy trying to predict what these wealthy individuals will do with XRP next as their combined holdings reach an all-time high.

The Behavior of Whales and Their Impact on the Market
When XRP's price dropped to about $0.505 in early September, the whales started to accumulate again. From 6.78 billion XRP to over 7.17 billion as of Thursday, these significant investors' holdings have expanded since then. The price spike for XRP occurred at the same time as this intense purchase.

Whale holdings are already reaching their all-time high, which was recorded just seven weeks ago, which is an interesting development. Midway through August, not long after the Ripple litigation was settled, whales amassed an unprecedented 7.2 billion XRP tokens, which inflated their value by 30%.

After hitting $0.6416 in August, XRP dropped to $0.5059 this month as a result of the following decline in whale holdings, which caused a price correction.

This resurgence of whale interest in XRP may be due to a number of things. The token's popularity has been boosted by recent events, such Grayscale's XRP Trust launch. The net asset value of the trust, which gives ordinary and institutional investors access to XRP, has increased by more than 11% since it was launched last week.


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