XRP whales are hitting large scale

It seems that big ripple (XRP) investors, either whales, take full advantage of the low rates at the moment. The total possessions of these whales have recently reached a peak. This point hadn’t been seen for at least two months. It can therefore be safely stated that XRP whales are no longer selling, but are stocking again.

XRP whales

That whales have been buying on a large scale for a while was noticed by the crypto analysis agency Santiment† They shared their findings on Twitter yesterday. Analyzing the buying and selling behavior of whales can be of great importance to estimate what the price may do in the future. Whales have a relatively large influence over the price of the underlying crypto currency.

Santiment classifies whales as investors who have between 1 and 10 million coins on their balance sheet. It is clear from the Santiment chart that this group of investors has not been deterred by the low price lately. On the contrary, they have just started buying XRP. Santiment also states that in just 11 days, total holdings of XRP tokens among whales rose by as much as 2.4%. According to Santiment, XRP whales currently hold 6.12% of all XRP in circulation.

“This is the most active level of non-exchanges, and they currently hold 6.12% of all XRP.”

Ripple rate

The fact that whales are accumulating is sometimes seen as a signal that a serious price increase may be imminent. Of course this is not a watertight signal, but it can at least be called cautiously positive.

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It will de price of XRP also not bad to start climbing again. At the time of writing, XRP has been under water by more than 80% since its all-time high a few months ago. That will not have left many XRP investors in the cold clothes.

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