XRP Whales Accumulate As Price Surges Ahead Of Altcoin Pack

The recent price movement of XRP has caught the attention of crypto whales, who have been actively accumulating the digital asset amidst its fluctuations.

Over the past week alone, these whales have acquired more than 31 million XRP tokens, signaling a bullish sentiment in the market.

Currently trading at $0.544, XRP has outperformed many other altcoins, experiencing a notable 6% jump and reaching as high as $0.5687 today. This surge in price underscores growing investor confidence in the asset, potentially indicating a shift in market dynamics.

$XRP dropped from $0.62 to $0.41, and #crypto whales took notice. They've bought over 31 million #XRP in just the past week! pic.twitter.com/3FCA3PR3hi

— Ali (@ali_charts) April 23, 2024

A significant development in the XRP ecosystem is the increasing number of wallets holding at least 1 million XRP tokens. This metric has seen a steady uptick over the past six weeks, rising by 3.1%. Remarkably, the current count of such wallets stands at 2,013, just one shy of the all-time high recorded on June 17, 2023.

This trend highlights a growing interest among investors and stakeholders in XRP, with many opting to hold substantial amounts of the digital currency in their wallets. The near-attainment of the previous all-time high in the number of large XRP holders further reinforces the positive sentiment surrounding the asset.

Comparing the current scenario to historical milestones, it’s noteworthy that XRP wallets holding 1 million or more coins reached their peak on June 17, 2023, with a count of 2,014. Fast forward to April 22, 2024, and the number of such wallets is on the cusp of matching this record, with 2,013 wallets currently in existence.