XRP Whales On A Buying Spree: Wallets Holding 1M+ Tokens Reaches Historic Accumulation Level

Investors’ interest in XRP is surging immensely following the recent growing optimistic sentiment out there, as seen by an enormous accumulation of digital assets by whales, also often known as large investors, indicating extreme confidence within the altcoin’s potential.

Large Investors Holdings Hits Unprecedented Level

XRP whales are making headlines because the variety of wallets with not less than 1 million tokens has increased to unprecedented levels in over 4 years, which shows a shift in big investors’ mood and adoption of the crypto asset. Leading market intelligence and on-chain data platform, Santiment revealed the positive advancement in accumulation in a recent post on X.

Data from the platform shows that a complete of 45.61 billion XRP are currently held by these wallets, marking its highest point since June 2018. Moreover, whales and sharks have turned around and amassed about 3.44 billion additional tokens within the last 2 years, which suggests an over 8.16% increase inside the period.

The surge in adoption reflects robust sentiment in its long-term prospects within the midst of improving market conditions and legal developments. It also suggests a strategic approach by these investors ahead of the much-expected price rally to higher highs.

While large investors have been accumulating the altcoin, Santiment highlighted that during the last 7 days, XRP traders have reaped a return of greater than 40%, cementing its position as a promising digital asset.

Wallets with 1 million+ XRP on a buying spree | Source: Santiment on X

This positive development is available in light of the token’s renewed upswing to several key resistance levels, which multiple market experts consider might be the beginning of a much bigger move, potentially to a latest all-time high.

Crypto analyst and enthusiast, Javon Marks, has expressed stark optimism towards the crypto asset’s path to a latest price peak. His forecast hinges on strong technical indicators and former cycle trends, which is seen as a precursor to significant price momentum.

In response to the market expert, in comparison with past performances, the altcoin’s next trajectory is concentrated at a latest all-time high and beyond, suggesting that XRP will rise by greater than 300% from its current price level to the $3.30 threshold. Nonetheless, considering the broader outlook, Javon Marks is confident that the move might just be the start of the asset’s anticipated future growth.

XRP’s Price Momentum Holding Strong

Major crypto assets are presently witnessing a pullback after weeks of persistent uptrend. Nonetheless, XRP has managed to sustain its upside momentum, surging to the $0.81 mark, a level not seen in 2 years. The milestone is believed to be supported by a strong optimistic sentiment and the buildup of the altcoin at an enormous scale.

CoinMarketCap reveals that its trading volume and market cap have increased by 87% and 16% prior to now day, indicating that investors are betting on XRP’s future. This rise in trading volume and market cap has caused a 16% price rally within the last 24 hours despite waning market general market sentiment.