Here Is How Much Big Investors Accumulated XRP in Just One Week

Data has shown that significant investors, commonly called whales, are accumulating XRP in anticipation of an upcoming XRP bull run. 

This strategic move coincides with XRP’s prolonged stay in the consolidation zone, where it has struggled to demonstrate noteworthy performance compared to other digital assets such as Solana (SOL) and Cardano (ADA).

How Much XRP Tokens Whales Accumulated This Week

In a recent tweet, the prominent market chartist Ali Martinez highlighted the significant amount of XRP tokens whales have accumulated over the past week. On-chain data from the renowned market intelligence platform Santiment backed Martinez’s update about the XRP whale accumulation.

According to the update, XRP whales have purchased approximately 360 million XRP between December 14 and 22. This buying spree amounted to a dollar value of roughly $223 million. 

Notably, these whales are investors typically holding between 10 million XRP to 100,000,000 XRP. Per the chart accompanying Martinez’s tweet, this new move to accumulate more XRP has not been observed for the last three months.

Previous Whale Activities

In September, when XRP’s price was below the $0.5 threshold, the activities of these XRP whales contrasted with XRP’s market performance.

Meanwhile,  as XRP experienced an upswing in the last days of October to mid-November, the actions of XRP whales closely mirrored the cryptocurrency’s performance. 

In particular, the number of wallets holding at least 10,000 XRP reached an all-time high of 277.62K addresses during the period. This was amid XRP reclaiming the $0.6 threshold, having lost it back in August.

Besides, transactions involving XRP valued over $1 million during the period reached a new high not observed in the prior three months. Data from the market tracker revealed that the last days of October saw 255 whale transactions of this magnitude.

However, despite the brief upward trends in XRP observed earlier this month, the activities of these whales diminished. Specifically, whale activities dropped to a low profile, similar to when XRP traded at $0.5. This was between November 26 and December 14, with XRP later retracing to near the $0.6 level.

Nonetheless, the XRP whales have resumed accumulating XRP over the last seven days, suggesting a possible anticipation of the asset’s next breakout.