Monday, March 8, 2021

XRP Whales Are Still On the Increase –Santiment

The lethargic price growth exhibited by the digital token XRP year-to-date has not dissuaded big bag holders, popularly known as XRP whales.

Going by the data made available by the crypto analytics firm, Santiment, the number of XRP holders with about 100,000 to 1 million XRP in their respective wallets has attained a new all-time high of 17,625.

Record also relates that there are 307 behemoth whales with over 10 million XRP in their wallets. The number only reduced by four compared to the 311 peak of September 2020.

Read Also: David Schwartz Highlights Obstacles Facing XRP As Price Lags Behind Bitcoin (BTC)

Moreover, the claim that XRP is one of the cryptocurrencies with the largest levels of wealth inequality is beginning to experience a gradual change. This is significant due to the increase in addresses holding between 100 to 1,000 XRP. This range of XRP holders has also recently attained an all-time high of 332,560.

XRP Whales Still On the Increase –Santiment
Courtesy of Santiment

However, the larger percentage of XRP in circulation is still held by just 100 accounts. This was revealed by the ledger.exposed, an XRPL Labs’ data analysis service.

XRP Price in the Market

To be candid, the performance of XRP, the largest digital currency by market capitalization, in terms of price trend has been below par in 2020, compared to its performance between 2017 and the beginning of 2018, when it recorded its price all-time high of $3.84.

Its peak in January 2018 correlated with Bitcoin (BTC)’s price trend around the same time, but XRP/BTC has dropped by relatively 93% since its peak.

However, according to Santiment, Ripple’s digital token, XRP, is still the most talked-about among other top and popular cryptocurrencies. This indicates a growing interest within the crypto community.

Read Also: Wietse Wind Explains How XRP Holders Can Claim Spark Tokens At the Flare Network via XUMM

Also, in terms of price appreciation, XRP has been one of the best performers over the past few days. According to CoinMarketCap, the cryptocurrency has surged by 6.42% over the past week. At the time of filing this report, XRP is trading at $0.271449, with a 2.42% price uptrend based on 24 hours estimation.

It’s of note that Bitcoin’s recent parabolic movement to $16,000 price level has aided it to lead other digital currencies in terms of social dominance and social volume.

XRP Whales Still On the Increase –Santiment
Courtesy of Santiment

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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