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Famous crypto company Santiment, which analyzes thousands of cryptocurrencies and their social measurements, recently released statistics on the activities of XRP whale investors.
Current Situation of XRP
According to the data shared by Santiment, there has been a significant decrease in whale transactions compared to 2021 and 2022. In addition, important shark and whale addresses in the XRP Ledger (XRPL) appeared to have accumulated over 1.5 billion coins between October 2021 and the same period in 2023.
According to the data mentioned in the tweet above, the total value of XRP held by whales as of October 9, 2022, was $7.16 billion. This incredible accumulation amounted to a total of 13.8 billion XRP at an average price of $0.52, considering the mentioned dates.
Another event caught the attention of market participants. The obtained data stated that an additional $730 million was spent to acquire more XRP tokens, which increased the value of the aggregated whale investment funds to $7.89 billion.
When the data shared by Santiment, XRP price was trading at $0.51. Based on this price, the total amount of XRP that could be obtained with $7.89 billion would be approximately 15.4 billion coins. Considering the amount of XRP accumulated between October 2022 and 2023, there has been a noticeable increase of approximately 11.6%, resulting in an additional 1.6 billion XRP being obtained.
It is worth noting that with the accumulation by whales in XRP, they have acquired an additional 2% of the total supply. The value, which was 24.1% in October 2022, has now risen to 26.8%.
XRP’s History and Whales
According to the Santiment chart, the date when whales took action is noteworthy. This date leads to November 2021. This date coincides with the emergence of FTX.
In addition, according to the charts, the percentage of XRP supply owned by these whale investors increased from 24.28% to 25.96% between November and December 2021. The percentage increase indicated that these addresses accumulated 960 million XRP within two months.
