XRP Accumulation Surpasses 1.5B by Major Investors

Crypto News- Over the past year, XRP whales and sharks have been accumulating more than 1.5 billion XRP, despite a notable decline in whale transactions on the network. Addresses holding between 100,000 and 100 million XRP have significantly increased their balances, as reported by Santiment, a market intelligence resource.

XRP Accumulation Surpasses 1.5B by Major Investors

Data reveals that these addresses held a combined XRP balance of $7.16 billion as of October 9, 2022, equivalent to 13.84 billion XRP at a price of $0.5171 per token. The most recent data shows that these addresses now hold $7.89 billion in XRP, equivalent to 15.37 billion XRP at a price of $0.5132. This data confirms an accumulation of 1.53 billion XRP by these addresses since last October, increasing their share of XRP’s total supply from 24.1% to 26.8%.

The Santiment chart highlights a significant increase in accumulation activity in November 2022 during the FTX issue, with a major spike in holdings. Their share of XRP’s supply rose from 24.28% on November 6, 2022, to 25.96% on December 29, indicating an accumulation of over 960 million XRP in less than two months. Another spike in accumulation was observed in mid-July following a legal victory for XRP.

Despite a decrease in whale transactions exceeding $100,000, Santiment reveals that the accumulation trend has persisted. In 2021, daily whale transactions averaged 9,000, peaking at 28,000 on April 21, 2021. The following year saw a decrease, with an average of 5,000 daily transactions. However, in the current year, these transactions have dropped below 4,000, with October 8 recording only 2,321 whale transactions.