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XRP

XRP HITS A 2-MONTH HIGH AS WHALE EXPANDS

Earlier today, Santiment Feed revealed that the number of $XRP whales holding between 1M and 10M coins had spiked to a two-month high of 6.12%.

The Santiment analysis tweet states that; 

“#XRPNetwork whales holding between 1M and 10M $XRP have collectively been accumulating and now hold their highest percentage of the asset’s supply in 2 months. This is the most active tier of non-exchange holders and currently holds 6.12% of all $XRP.”

The observation shows that XRP addresses between the 1m to 10m range have been the biggest asset holder in the past two months. Moreover, according to data from Santiment analytics and charts, the amount of XRP coins held by whales has sped upwards in the past few days. According to the Santiment tweet, this whale range expanded nearly 2.4% in 11 days.

RELATED: XRP Lawsuit: Ripple Continues To Exude Confidence

Since this is a non-exchange division, it seems that a lot of investors buy these assets for the purpose of holding because of the continuous XRP price action.

XRP has been on a bear trend for the past two months, with the prices decreasing from $0.9076 to $0.4009. According to CoinMarketCap, in the past seven days, XRP’s value has dipped from $0.41 to around $0.3881.

The chart shows that the coin shed a little over 4% of its value in seven days. However, in the 24 hours prior to the release of this report, XRP has shed nearly 2.19%. The continuous bears in the XRP coin contribute to more people expanding their wallet sizes. More investors are enlisting the whole range, presuming future gains.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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