As a seasoned analyst with over two decades of experience in the financial markets, I find the recent surge in XRP holdings by sharks and whales quite intriguing. The sharp increase in these large-scale investors’ holdings to an all-time high is a clear indication of their confidence in the asset’s potential.
Data from the blockchain indicates that large investors, such as sharks and whales, have significantly increased their XRP holdings to an unprecedented peak (new all-time high), marking a 10% increase in August.
XRP Wallets With 10 Million To 100 Million Tokens Have Set A New Record
As per information from the analytics company Santiment, there has been a significant rise in the XRP holdings by both large and very large investors (often referred to as ‘sharks’ and ‘whales’) in recent times. The key metric being monitored here is the “Supply Distribution,” which provides insights into the current amount of cryptocurrency that each wallet group, specifically these larger ones, possesses at this moment.
Investors or holders are categorized into different groups depending on the quantity of coins they possess at present. For example, a wallet containing 5 XRP would be classified within the group that holds between 1 and 10 coins.
For our ongoing discussion, we’re focusing on the group that contains between 10 million and 100 million tokens. Right now, this range equates to approximately $6.13 million at the smallest value, and up to $61.30 million at its highest when converted using the current exchange rate.
It’s evident that only the biggest entities within their particular sector would fit this category. To put it another way, the larger sharks and smaller whales might be included in this group’s size range.
In essence, the control or impact of any entity within a network tends to increase proportionately with their coin ownership. Therefore, monitoring the actions of these significant coin holders is advisable, since their behavior could potentially shape market trends.
As a seasoned cryptocurrency investor with years of experience under my belt, I have come to appreciate the value of keeping tabs on the distribution of XRP supply among large-scale investors, also known as “whales” and “sharks.” Over the past few months, I have closely monitored this trend using a chart, which provides insightful data that helps me make informed investment decisions. In my opinion, understanding the dynamics of XRP supply distribution is crucial for anyone looking to navigate the volatile world of digital assets.
It’s clear from the graph that in the last few days, both XRP ‘large investors’ (sharks) and ‘very large investors’ (whales) have significantly boosted their holdings. Simultaneously, there has been a noticeable recovery for this asset following its recent downturn. Interestingly, a substantial surge has occurred within the past 24 hours.
As an analyst, I find it noteworthy that the surge in the cryptocurrency’s value can be attributed to Ripple‘s triumph over the US Securities and Exchange Commission (SEC). The court decision has led to a significant reduction in the initial $2 billion fine proposed by the SEC, with Ripple only required to pay $125 million instead. This ruling seems to have instilled confidence among investors, potentially contributing to the price increase of the cryptocurrency.
It’s worth noting that most of the shark and whale investments were made before the news broke, suggesting these investors might have predicted the end result in advance.
As a crypto investor within the bracket of 10 million to 100 million coins for XRP, I’m excited to share that the distribution supply has reached a new all-time high (ATH). The collective holding of investors in this group amounts to approximately 7.06 billion XRP, currently valued at around $4.3 billion. This impressive increase represents more than 10% growth just in August alone.
In the same graph, Santiment has additionally provided data for another metric known as Social Dominance. This metric offers insights into the proportion of conversations on social media concerning the leading 100 cryptocurrencies that a specific asset presently holds.
It seems that XRP‘s graph shows a significant increase, likely due to discussions among users regarding the resolution of the Ripple case and its potential impact on the market. Yet, it’s worth noting that excessive excitement surrounding the coin has typically not bode well for its long-term price.
XRP Price
As a crypto investor, I’m excited to note that my XRP holdings have almost fully recuperated from the downturn that started in late July. The value of XRP has bounced back and is currently sitting at around $0.61.
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2024-08-09 05:11