Santiment, a market intelligence firm with on-chain and social metrics for over 2,000 cryptocurrencies, recently took to X to reveal statistics on XRP’s whale investors’ market activities.
According to Santiment, whale transactions witnessed significant declines in comparison with what was obtainable in 2021 and 2022. However, key shark and whale addresses on the XRP Ledger (XRPL) seemed unperturbed, accumulating over 1.5 billion tokens between October 2021 and October 2023.
Read Also: Whales Move Over 900 Million XRP Within the Last 48 Hours. Here’s Their Destination
For context, whale and shark addresses in Santiment’s released data refer to wallets holding between 100,000 to 100,000,000 XRP.
🐳🦈 #XRPLedger is seeing less whale activity this year compared to 2021 & 2022. However, this hasn't stopped the key shark & whale addresses from accumulating more of the supply. Wallets with 100K-100M $XRP hold $7.89B in coins vs. $7.16B a year ago. https://t.co/NMnrTCTMUw pic.twitter.com/DSShcoFa8G
— Santiment (@santimentfeed) October 9, 2023
A Brief Overview Of The Whale Accumulation Trend
Per data retrieved from the above tweet, the whale investors boast a combined $7.16 billion worth of XRP tokens as of October 9, 2022. This tremendous sum amounted to an estimated 13.8 billion XRP tokens based on XRP’s average price as of then, which was approximately $0.52.
Intriguingly, the latest data revealed that an additional $730 million was pushed into accumulating more XRP tokens, bringing the combined whale investment funds to $7.89 billion.
It is worth noting that XRP’s price at the time of revealing the above statistics by Santiment was $0.513238. Estimating the amount of XRP stores obtainable with $7.89 billion based on the price of XRP at the time of sharing the chart will be 15.4 billion coins.
Comparing the amount of XRP acquired between October 2022 and 2023, there was a remarkable increase of about 11.6%, which implies an additional 1.6 billion XRP.
Worthy of mention is the fact that the XRP’s latest accumulation on these whale addresses now translates to about 26.8% of the digital asset’s supply, an increase from the 24.1% recorded in October 2022.
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Read Also: Crypto Whales Moved 442 Million XRP As Price Rebounds. Here’s the Destination
Whale Wallets Accumulation Reached The Summit In November 2021
Per the Santiment chart, XRP accumulation by the whale addresses appeared to hit the zenith in November 2021, following the FTX implosion.
Intriguingly, in 2021, the percentage of XRP supply owned by these whale investors spiked from 24.28% to 25.96% between November 6 and December 29. The percentage increase implies that the addresses accumulated 960 million XRP within two months.
The balance above remained relatively constant until around mid-July, when it spiked again following the widely celebrated Judge Torres’s summary ruling that removed XRP of securities stigma.
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