U.Today - In a noteworthy development, data from reveals that XRP is witnessing a modest but robust resurgence in its price trajectory. The recent surge of approximately 4% in XRP's value has been attributed to the concerted efforts of some of its most influential holders, colloquially referred to as "whales."
According to Santiment's metrics, a total of 221 addresses, each holding an impressive 10 million to 1 billion XRP, have emerged as key players in this evolving narrative. These whales now boast a collective cache of 16.13 billion tokens, which translates to a staggering valuation of $8.71 billion.
Of particular note is the remarkable leap recorded among addresses in possession of 100 million to 1 billion XRP units, as illustrated on the chart. On Aug. 18, these deep-pocketed entities underwent an astronomical expansion, witnessing an unprecedented influx of 1.01 billion tokens. This exponential surge propelled their cumulative holdings to an astonishing 11.03 billion XRP.
Source: In contrast, the trajectory of accumulation has been notably smoother for smaller addresses, housing between 10 million and 100 million units. Over the course of a recent window, spanning from Aug. 13 to the present, these investors have progressively fortified their positions, amassing an impressive 200 million tokens. As a result, their collective holdings now stand at a substantial 5.08 billion .
The correlation between these accumulation trends and the token's slight price growth is unmistakable. Although the price surge may have appeared modest, hovering around the $0.43 mark per , it evidently spurred the interest of significant investors. This particular price point, which was attained following a recent shakeup on the broader crypto market, seems to have garnered favor among larger investors as a relatively secure stance for risk management.