Recent data supplied by Santiment reveals a decline in whale activity on Ripple’s XRP Ledger compared to the preceding two years. Well-known XRP Ledger addresses continue to increase their holdings despite the decline in overall whale activity.
Whale address accumulation continues
Santiment reports that wallets holding between 100K and 100M XRP have experienced an increase in their accumulations despite the overall decline in whale activity this year.
In particular, these wallets currently hold a total of $7.89 billion in coins, an increase from $7.16 billion in the previous year.
According to this information, there may be less exchange activity among the bigger participants, but there is still a sizable concentration of XRP in the top-tier wallets.
Concerns regarding the possibility of centralised control are regularly raised by the concentration of XRP in a very limited number of wallets.
The XRP price remains steady after large transfers
Despite what appears to be a decline in whale activity on the XRP Ledger, it is clear that substantial transfers are still occurring.
Recent warnings revealed a significant movement of 50 million XRP from CryptoCom to an unidentified wallet, valued at about $24.9 million, and 30.3 million XRP, worth around $15.2 million, travelling to Bitstamp.
The price of XRP was little affected by the transactions. The price of the cryptocurrency is now at $0.500928, and its market capitalization is about $26.75 billion. XRP has witnessed a trading volume of roughly $823.3 million during the last day.
