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Ripple’s XRP whales are taking advantage of the current crypto lull to accumulate the coin. In other words, large investors quickly bought up tokens and increased the percentage of supply they held. In the last month, the population of these large whales has increased – their overall total has even shot up to an all-time high.
Whales pounce on XRP
Data from Santiment shows: The holdings of XRP whales with 100,000 to 10 million coins in their account have increased by more than 6% in the last five weeks. The whales owned about 11% of the total XRP supply in mid-November after the collapse of the crypto exchange FTX. Since then, however, they have increased their holdings by millions.
Currently, the total supply of these large whales is around 18%. The chart below shows a clear upward trend over the past month where the population of these whales has increased. Especially for those who have between 1 million and 10 million coins.
The same trend can also be seen with the wallets, which contain more than 10 million coins. These wallets now have a larger majority of the total supply at 71.67%. In mid-November, it was still 70.8%. Overall, addresses with more than 100,000 coins now hold about 90% of the total XRP supply.
Will XRP recover from here?
The price of XRP is currently moving in step with the crypto market. He is still feeling the effects of Wednesday’s FOMC announcement.
However, this clear accumulation trend in XRP whales could indicate a possible decoupling of the XRP price from the broader crypto market – it could even lead to a rally.
Because the prices are so low, many investors do not want to sell their coins, but want to invest for the long term. If the available supply continues to go to investors who are long-term owners, this demand could result in a supply shortage.
The Santiment data also shows accumulation even at smaller addresses. So there is a good chance that XRP will test the $0.4 resistance level before the week ends.
While the low volatility associated with weekend markets may stand in the way of an XRP rally. However, helping the cryptocurrency maintain recent gains can also be a boon.
Ripple’s XRP is trading at $0.38 at the time of writing. It remains the sixth largest cryptocurrency with a market cap of around $19.2 billion.
Final phase started: Calvaria (RIA) near completion before sale
In addition to Ripple’s XRP, the new P2E NFT trading card game Calvaria (RIA) is also in high demand: A whale just bought nearly $100,000 worth of RIA tokens – even crypto influencer Jacob Bury is amazed.
Bullish for Calvaria: In the current presale, the project has already raised $2.5 million in capital from investors, and the fifth and final phase has now begun. “The home stretch is approaching,” the team commented on Twitter:
— Calvaria: Last Stage Presale is live! ✨ (@CalvariaP2E) 12 December 2022
In other words: If you still want to enter Calvaria (RIA) for pre-sale terms, now is your last chance to do so!
Text credit: Newsbtc
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