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Whales XRP Holdings Surge to One Year Peak

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Whale addresses holding 100K to 10M XRP drastically increased their XRP holdings in the five weeks leading to December 11.

XRP whales (addresses holding 100K to 10M XRP) have been on an accumulation trend of late, as the ratio of XRP supply held by these addresses increased from 16.7% to 18.27% within the past five weeks. This wave of accumulation began, following XRP’s crash from the lofty position of $0.50, suggesting a growing buy-the-dip frenzy.

The current XRP supply ratio of 18.27% held by these whale addresses is the highest the network has seen in over a year, per data from crypto behavior analytics platform Santiment. Santiment recently highlighted the growing accumulation pattern amongst whales of several assets, including XRP, in an insight report today.

Information from a Santiment chart suggests that this whale accumulation trend picked up in June when the community started witnessing a recuperation from the impact of the Terra collapse in May.

Nonetheless, following the crash from the $0.50 territory in early November, triggered by the FTX saga, the network witnessed a surge of accumulation. Whales scooped large amounts of XRP tokens as they looked to amass the asset in an oversold zone. This saw a sharp surge of the XRP supply ratio held by these addresses from 16.7% to 18.27%, marking a 9.4% increase in just five weeks. The accumulation trend remains sustained as of press time.

Due to the effect of the concepts of supply and demand on assets within the markets, the Santiment report has noted that another price rally would not be surprising for XRP, considering the sharp surge noticed in accumulation.

XRP Whale Movements Have Picked up

The Crypto Basic had, in the past few weeks, highlighted these whale movements. The latest transactions involved the movement of over 160M XRP tokens between several addresses, as reported last Thursday. Barely 24 hours before the latest transactions, a single whale moved over 4 billion XRP tokens from Bittrex to several unidentified wallet addresses.

Furthermore, on November 30, the network witnessed another batch of whale movements that saw 442M+ XRP tokens in motion. The most significant transaction in this batch involved the movement of 280M XRP tokens between two unidentified wallets.

Over 578M XRP was moved on November 10, and 528M+ tokens were set in motion shortly after, as reported on November 16. Additionally, 421M XRP tokens were also highlighted to have been moved by whales on November 26.

In the latest XRP movement, Ripple Moved 50M XRP, Whales 160M+ on Dec 8th. Today on Dec 13th, Whales Shuffled 392M XRP.

These whale movements had significantly increased within the past weeks, supporting Santiment’s report.

XRP Gains, but Yet to Capture the $0.40 Point 

Meanwhile, XRP has outperformed the majority of altcoins in the past seven days despite its dip within the timeframe. With a 1-week drop of 0.10% at the time of reporting, XRP is showing more resilience against the shenanigans of the bears than most altcoins which have mostly dropped by over 5%. However, the firstborn crypto BTC, and the king altcoin ETH, is showing more strength.

With a slight gain of 2.34% in the past 24 hours, XRP is the highest gainer amongst the top 15 assets in the past day. Notwithstanding, its goal to reclaim the $0.40 price point has not materialized, as it currently trades at $0.38 at the time of reporting.

As reported earlier, XRP’s journey to recapture the $0.40 is majorly hinged on updates on the legal battle between Ripple and the U.S. SEC. With the litigation nearing its endpoint, rumors of a Ripple settlement on December 15 surfaced, but they were summarily debunked. The U.S. macroeconomic conditions will also play a role in Ripple’s reclamation of $0.40.

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