XRP, one of the remarkable names of the crypto money world, has recently been on-chain. in data experienced a significant increase. According to recent reports, the number of whales holding 100 million XRP has risen to 199, representing the highest number recorded in the altcoin market in a long time. Each of these whales has a staggering minimum of $74 million.
The increase in the last 11 weeks shows that XRP is still attracting strong interest in the market and large investors are still present. In other words, it is possible to say that the data points to an important milestone for the altcoin.
🐳 The amount of #XRP whale wallets holding 100M+ coins (at least $74M) is up to 199, matching the most wallets since May 13. The #4 market cap asset has been a top July trending topic, and $XRP has shown moderate price correlation with these fluctuations. https://t.co/XOLhJjttwI pic.twitter.com/iSBKG9pIPH
— Santiment (@santimentfeed) July 23, 2023
NEWS CONTINUES BELOW
XRP stands out for its unique features and transaction speed compared to other cryptocurrencies. It stands out as a preferred digital asset for fast and low-cost money transfers, especially between financial institutions. This, in turn, increases the interest of major institutional players in XRP. However, we can say that especially the SEC victory was effective in this recent increase in whale interest.
Besides, XRP active addresses DE have increased by over 23% in the last 30 days. Additionally, addresses holding 100,000 to 100 million XRP tokens have accumulated approximately 838 million XRP tokens since May.
Santiment also drew attention to the correlation between XRP’s price movements and fluctuations in the number of large whale wallets. He stated that the XRP price shows a moderate correlation with the increase in these huge assets.
XRP Price Prediction
While XRP is trading at $0.7316, Coincodex’s latest price prediction shows that the digital asset will experience a significant increase of about 31.05% and hit $0.966324 by July 28, 2023. Forecasting based on technical indicators, Coincodex noted that the current sentiment surrounding XRP is neutral, with XRP having a balanced market sentiment among traders.
In addition, the Fear and Greed Index reached 55, which expresses the feeling of greed prevailing in the market. Considering these factors, Coincodex announced that the current port is a good moment to invest in XRP.
You can follow the current price action here.
Source : the crypto basic