- A record 300,000+ wallets now hold over 10,000 XRP.
- Whale activity highlights potential bullish trends.
- Market anticipates price movement following historical patterns.
XRP witnesses a surge as over 300,000 wallets now hold 10,000+ tokens, a record high observed in October 2023, highlighting heightened whale accumulation.
The increase in whale wallets holding over 10,000 XRP suggests potential bullish trends, with the on-chain data driving speculation of significant market moves.
In a record-setting event, the number of XRP wallets holding over 10,000 tokens has surpassed 300,000. This marks a significant phase of accumulation and has been widely noted among crypto analysts and community members. Blockchain data from Glassnode confirms the surge, with approximately 900 million XRP amassed in the last month.
“Over 300,000 wallets now hold 10,000+ $XRP, hitting a record high as whales amassed 900M #XRP worth $1.8B in last 30 days.” — Glassnode, Blockchain Analytics Platform
Ripple Labs, the entity primarily associated with XRP, has not released a formal statement regarding this increase in whale activity. However, influential crypto educators and analysts have amplified Glassnode’s data, sparking discussions in the community about potential bullish implications.
The rising interest in XRP from large-holders could indicate increasing conviction among institutional investors. Historical data shows similar accumulation phases have often preceded significant price appreciation. The last month saw XRP’s price hover around $2.20, with a potential breakout anticipated if trends mimic past market behavior.
Potential financial outcomes include increased liquidity and value appreciation. Analysts cite the surge in whale activity as a signal of long-term market commitment. Technical indicators like a positive MACD suggest that XRP might be on the cusp of a rally reminiscent of past surges. As regulation continues to evolve, the ongoing Ripple vs. SEC case remains a crucial factor influencing investor sentiment and future market dynamics.
