Thursday, January 20, 2022
Home Crypto News Analysis Is Ripple Time As A Major Asset Coming To An End? Or...

Is Ripple Time As A Major Asset Coming To An End? Or Are Whales Still Accumulating XRP?

- Advertisement -

Ripple (XRP) remains far off from its 2017 all-time high. On 4th December, it fell down to $0.60 so the question is, Is XRP’s time as a major asset coming to an end?



According to recent Santiment statistics, XRP smart whales have continued their year-long accumulation trend. ‘Smart Whales’ are basically an institutional-level investor class and these are addresses that hold 1 million to 10 million XRP tokens.

These XRP whales have increased their XRP holdings by 6% over the past 3 months. It’s important to note that the value of XRP has dropped nearly 40% in those three months.

Satimetns writes:

“XRPNetwork is currently sitting at about $0.81, but smart money whale millionaires have kept up their one-year trend of accumulating more supply. Addresses with 1M to 10M XRP hold 3.31B, including a 6% increase to their holdings in the past 3 months.”

 

XRP Active Addresses

While the value of XRP may decline, the number of active XRp addresses has increased over the past few months. This means that transactional activity remains very high on average, but the price does not yet reflect its growth.

xrp active addresses
Image source: messari.io

XRP’s MVRV ratio

At this point, XRP’s Market Value to Realized Value (MVRV) ratio is also providing an engaging picture. A 30-day to 365-day MVRV ratio indicates a buying opportunity as both indicators are negative at the time of writing. A negative MVRV ratio means that the price of the token should rise from here since its realized value does not match the market transaction value.

xrp mvrp ratio

Is the XRP becoming a market follower?

Not exactly, but the XRP has become more reactive to the bearish momentum. There is no demand for the asset from new crypto investors as fresh capital is moving to assets like Solana, Cardano, Shiba Inu, etc.

- Advertisement -
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Central Bank Of Russia Proposes A Ban On Cryptocurrency Use And Mining

The Central Bank of Russia (CBR) issued a consultation paper on Thursday entitled 'Cryptocurrencies: Trends, Risks, and Regulation', whose primary focus is to influence...

Fox Business Journalist Says SEC legal Team Declared Ripple (XRP) Non-Security In 2018 So What Changed In 2 years?

Eleanor Terrett, a Fox Business journalist, recently questioned the ongoing lawsuit between the SEC and Ripple. window.coinzilla_display...

Michael Saylor Reaffirmed After BTC Drop From $69K to $40K That Neither He Nor His Company Will Sell A Single Satoshi

Michael Saylor, again affirmed that neither he nor his company is going to sell their bitcoin holdings. ...

After Sundaeswap, Another Decentralized Exchange Is Launching On Cardano

After Sundaeswap, another decentralized exchange (DEX) based on Cardano, Minswap has announced January 25, 2022, as its public beta launch date.

Shiba Inu Leading Developer Share His Thoughts On Microsoft-Activision Acquisition, Can Shib Get Something From This Deal?

Shiba Inu cryptocurrency holders woke up and smelled roses, and it's all thanks to Microsoft as the company prepares its new acquisition of Activision.

Shiba Inu Takes 3rd Spot Beating Ethereum In Top 10 Most Viewed Coins In Europe

Coin market cap (CMC) has just released its “Top 10 Most Viewed Crypto Coins” list for Europe. The list is released by CMC based...

Another Memecoin Trending On Twitter With 690T Supply

Twitter has become one of the main discussion points about cryptocurrencies. Recently, a cryptocurrency has been trending, looking like a bizarre project, the Shibnobi...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.