XRP Whale Holdings Hit 7-Year High Despite Fewer Wallets

XRP Whale Holdings Hit 7-Year High Despite Fewer Wallets

Key Points:

  • XRP whales consolidate holdings amid reduced wallet numbers.
  • 21.4 billion XRP held at 7-year high.
  • Investment reflects strategic confidence despite price drop.

Market observers note the decline in whale addresses while total XRP holdings by these entities have soared, reflecting strategic consolidation. The move illustrates a confidence in XRP’s long-term value despite current market downturns.

Recent reports highlight a decrease in whale addresses by 20.6%, yet holdings increased by 4.07 billion XRP over three months. The total now stands at 21.4 billion XRP. This strategic concentration suggests long-term conviction in XRP’s potential market resurgence.

Key players in the activity are entities holding between 20 and 500 million XRP tokens. No major public statements from Ripple executives such as Brad Garlinghouse have been tied directly to this trend. On-chain analysts like Santiment and XRPSCAN have been primary data sources.

The whale activity affects primarily XRP, with no significant impacts on other assets identified. This movement signals institutional or large holders doubling down amid strategic accumulation, despite XRP’s price decreasing by about 47.5% recently.

Anonymous, Crypto Market Analyst, “The reduction in whale addresses coupled with the increase in total holdings suggests a consolidation of supply among stronger hands, which could indicate reduced selling pressure and potential price stabilization.”

The consolidation of XRP among fewer whale addresses points to reduced selling pressure and potential price stability. Institutional confidence is high despite ongoing Ripple legal battles, with experts suggesting this pattern may precede market rebounds, mirroring historical trends.

Insights suggest these strategies may anticipate favorable outcomes in legal or institutional adoption scenarios. Historical patterns indicate that whale activity often aligns with market rebound phases, reflecting stronger XRP accumulation seen before Ripple’s legal and market events.

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