Big investors have been steadily accumulating more than 1.5 billion XRP since October of last year, even as the XRP Ledger experienced declining whale transactions. Market intelligence resource Santiment has disclosed that these significant addresses, categorized as whales and sharks, holding between 100,000 and 100 million XRP, have consistently grown their XRP holdings over the past year.
As of October 9, 2022, data indicated that these wallets collectively held an impressive $7.16 billion worth of XRP, equivalent to 13.84 billion tokens, at a price of $0.5171 per token. Since that time, their cumulative holdings have continued to increase.
The most recent data reveals that these addresses now boast holdings worth $7.89 billion, totaling 15.37 billion XRP tokens at a price of $0.5132. This disclosure underscores that these addresses have acquired a substantial 1.53 billion XRP since last October, resulting in them now possessing a significant 26.8% share of XRP’s total supply, compared to the 24.1% recorded a year ago.
Related article: XRP Inches Closer to $0.55: Could a Major Breakthrough be Around the Corner?
A Trend of Amassing XRP
A closer look at Santiment’s chart highlights the accumulation patterns of these wallets. Notably, their aggressive XRP accumulation began in November 2022, coinciding with the FTX implosion, marking the most significant surge in their holdings during this cycle.
Of particular interest is the period from November 6, 2022, to December 29, when their balance surged from 24.28% of XRP’s supply to 25.96%, indicating an accumulation of over 960 million XRP in less than two months. Their holdings remained relatively stable until another uptick was observed in mid-July, coinciding with a legal victory for XRP.
Related also: XRP Leads with Forbes’ $8T Prediction Amid US Dollar Concerns
Whale Transactions in XRP on a Decline
Remarkably, this accumulation trend persisted despite declining whale transactions valued at over $100,000. To provide context, in 2021, daily whale transactions averaged around 9,000, with noticeable spikes occurring in April and May, peaking at 28,000 on April 21, 2021.
The following year saw a significant decrease in whale transactions, although they still averaged around 5,000 daily. However, Santiment pointed out that this year has seen a further drop, with transactions now averaging below 4,000. Notably, as of October 8, only 2,321 whale transactions were observed.
