Santiment: Thanks to whale wallets holding between 1 million and 100 million XRP, XRP has broken a three-year high

2024-11-17 09:40:36

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ChainCatcher news, Santiment stated on the X platform that XRP has now broken through a 3-year high, reaching $1.2679 on Binance for the first time since November 11, 2021.

This rebound is attributed to major whale wallets holding between 1 million and 100 million tokens. In just the past week, this group has accumulated a total of 453.3 million tokens (worth $526.3 million). Meanwhile, the tokens they accumulated mainly came from retail traders attempting to sell their tokens during a slight increase in XRP.

Last week, wallets holding less than 1 million XRP sold a total of 75.7 million tokens (worth $8.79 million). Historically, when cryptocurrency traders increase their holdings and confidence, the market capitalization tends to show positive growth, while retail FUD further drives this growth. This is exactly the scenario presented by XRP.

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