XRP coins have been purchased in startling quantities by cryptocurrency whales over the past month, boosting their wager on this Ripple-related asset, according to cryptocurrency trader and analyst Ali Martinez, who posted the information on Twitter.
These whales have increased their stockpile by more than 52 million XRP in the previous three weeks. This quantity of cryptocurrency is roughly comparable to $30 million in fiat currency. The dealer emphasised that these whales appear to be optimistic on XRP.
Martinez used a graphic from the Santiment on-chain data agency in his tweet.
The sixth-largest cryptocurrency, XRP, has increased by 5.41% during the last several days, rising from $0.44759 to the $0.47182 level, where it is presently trading on the Bitstamp platform.
Here’s what Santiment’s latest XRP report reveals
The XRP price has recently been quite responsive to news stories, according to a tweet from the aforementioned data company Santiment earlier today.
According to a Santiment study on XRP, there haven’t been any developer innovation events recently on the XRP chain and none of the inventions had the appearance of completed projects. One of the published charts indicates that it appears the developers have merely been adding additional fixes “without significant modifications.”
According to the report’s authors, “juicy headlines” in leading media sites are to blame for the XRP price shocks. The research goes on to say that the most recent price increases don’t appear to be the result of any natural factors. According to the authors, “it is artificially regulated by large transactions.”
According to the research, initiatives like XRP demonstrate that there are currently significant competitors in the cryptocurrency sector.
