Crypto analytics firm Santiment says big players in the world of cryptocurrency are buying XRP at a frantic pace.
The market insights agency says that the current rate of XRP’s whale accumulation has been topped just once in the last half-decade.
“The second-largest XRP accumulation in the past five years by top-tier whales is in progress.
There are currently 336 XRP Network addresses that hold 10 million XRP or more. Many of these undoubtedly belong to exchanges, but this is still a notable anomaly.”
Since December 2021, the largest XRP wallets have picked up 897 million XRP worth over $708 million at time of writing.
The latest whale accumulation is second only to November and December of 2020 when whales added 1.29 billion XRP to their stacks.
Santiment highlights that XRP’s price climbed significantly against Bitcoin (XRP/BTC) in April 2021 and now poses the question of whether the altcoin will do the same in the months to come.
XRP is currently the sixth-ranked crypto asset by market cap. At time of writing, the altcoin is up a percent to $0.79. It’s recovered from a late January low of $0.57 but hasn’t been valued above a dollar since briefly touching that mark on December 23rd.
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The post Crypto Whales Gobble Up Over $708,000,000 in XRP Amid Massive Accumulation Spree: Analytics Firm Santiment appeared first on The Daily Hodl.
