Could it be that XRP’s Whale Activity Reaches New Highs? The recent data from Santiment, a market intelligence platform, suggests that this might indeed be the case. It reveals a surge in transactions exceeding $1 million, marking a 3-month peak. Notably, the count of shark and whale wallets holding over 10k XRP tokens has also hit a record high. This spike in activity coincides with a 3% increase in XRP’s price, which currently stands at $0.5936.
On-Chain Activity and Price Surge
After hitting the $0.6 mark for the first time since its August drop, Ripple’s XRP has seen a surge in on-chain activity. The data from Santiment shows a steady increase in XRP whale activity, which has been growing progressively more intense as the coin’s price climbs.
Just yesterday, Whale Alerts, a platform that tracks large cryptocurrency transactions, reported a transfer of 50,000,000 XRP (worth roughly $29,870,608) from Ripple to an unidentified wallet. This was followed by another significant transfer of 24,900,000 XRP (valued at about $14,948,295) from an unknown wallet to Bitstamp.
Record-Breaking Wallet Holdings
According to Santiment, the number of shark and whale XRP wallets holding a minimum of 10K coins has hit an all-time high. The number of wallets with 10K+ coins now surpasses 277.6K, indicating a clear trend of accumulation among traders. This trend seems to be positively affecting XRP’s price, which has risen by over 3% in the last 24 hours. The remittance token was trading at $0.5936 at press time after reaching a high of $0.6127.
Volume and Market Cap Increase
Alongside its price hike, XRP’s 24-hour trading volume has seen a 39% increase. As a result, the altcoin’s volume rose to approximately $2,239,573,359. Meanwhile, the token’s market cap climbed to $31,800,056,554, securing XRP’s position as the 5th largest cryptocurrency in terms of market capitalization.
These recent successes could be a factor in attracting the attention of whales. Over the past week, XRP’s price has risen by over 7%, and its monthly increase stands at 13.87%.
For those who wish to track these trends and stay updated on the latest whale activities, tools like the cryptoview.io application can be incredibly helpful.
Discover More with cryptoview.io
