Ripple Surge Continues as Whales Amass 420 Million XRP

XRP Community Divided as SEC Initiates Lawsuit Against Musk

In the last month, a significant number of whale addresses holding between 10 million and 100 million units of XRP have joined the Ripple network. As a result, these large investors have increased interest in investing in XRP.

Ali, a popular cryptocurrency analyst, recently drew public attention to a positive pattern in the market. He referred to data from Santiment, a market intelligence information source.

The whale addresses holding between 10 million and 100 million XRP began experiencing a significant increase between February 21 and 23, according to the Santiment data. These whale addresses had a little more than 116 before this sudden surge as of February 16.

According to the Santiment data, between February 21 and February 23, a significant increase in whale addresses holding 10 million to 100 million XRP began to occur. Before this sudden surge, these whale addresses had a slight overcount of 116 as of February 16.

Read also: Ripple Positions Up For Grabs Despite Regulatory Battle

Additionally, during the previous month, these addresses have massively increased their overall cumulative balance, accumulating 420 million XRP, currently worth $161 million. As a result, the total balance of 4.03 billion XRP, valued at $1.54 billion at the time of writing, has been generated.

Moreover, the total number of addresses on the Ripple network has increased to 4.625 million. On March 1, the number of addresses exceeded the 4.6 million mark. According to information from Messari, up to 295 addresses presently possess XRP tokens worth at least $10 million. Furthermore, there are now 955 addresses that hold XRP valued at least $1 million.

XRP Gathering Momentum

XRP has managed to post gains over the previous week, increasing by 4%, while behind other assets in the most recent market-wide surge. Over the weekend, the asset used the upswing to retake the $0.3950 level, although it was severely pummelling below the area.

XRP is trading at $0.3830, up a negligible 0.15% over the last day. On Sunday, its market cap towered over $20 billion, but as of the present moment, it is $19.52 billion, falling short of the benchmark.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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