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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/altcoin/ripple-news-xrps-on-chain-metrics-signal-notable-rise-in-100m-whales/">Ripple News: XRP’s On-Chain Metrics Signal Notable Rise in 100M Whales</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Since obtaining regulatory approval in the United States, XRP, the digital token associated with Ripple, has stayed in the limelight. Its non-security classification has seemingly whetted the appetite of large-scale investors, colloquially known as whales.</p> 
<h2 class="wp-block-heading" id="strong-a-surge-in-whales-is-bigger-better-strong"><strong>A Surge in Whales: Is Bigger Better?</strong></h2> 
<p>Santiment, a cryptocurrency market intelligence platform specializing in on-chain analytics, reported via a social media post that the number of XRP whale wallets has witnessed a notable surge. These high-value wallets each hold a staggering minimum of 100 million XRP, equating to a sizable worth of at least $74 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> The amount of <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> whale wallets holding 100M+ coins (at least $74M) is up to 199, matching the most wallets since May 13. The #4 market cap asset has been a top July trending topic, and <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> has shown moderate price correlation with these fluctuations. <a href="https://t.co/XOLhJjttwI" rel="noopener noreferrer nofollow">https://t.co/XOLhJjttwI</a> <a href="https://t.co/iSBKG9pIPH" rel="noopener noreferrer nofollow">pic.twitter.com/iSBKG9pIPH</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1683054955350065152?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2023</a> 
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>The increase to 199 addresses of this magnitude matches the peak number recorded since May 13. This is undoubtedly a significant development in the XRP ecosystem and may suggest an uptrend in investor confidence or market dynamics.</p> 
<h2 class="wp-block-heading" id="strong-xrp-whales-historical-dance-strong"><strong>XRP Whales’ Historical Dance</strong></h2> 
<p>Reflecting on Santiment’s chart, July 2022 saw 200 XRP whales actively accumulating the digital token while it was trading below the $0.40 mark. However, as XRP’s price spiked past $0.518 over three months, these investors shifted gears and started offloading their holdings, causing a downtrend.</p> 
<p>Fast forward to the period between December and March 2023, and these whales made a comeback. The average XRP price hovered around $0.414 during this phase of renewed accumulation. By April, another sell-off ensued, with the number of whale wallets also dipping below 200.</p> 
<h2 class="wp-block-heading" id="h-xrp-price"><strong>XRP Price</strong></h2> 
<p>As of the time this article is being written, XRP’s value stands at $0.72, holding steady its position as the fourth-largest cryptocurrency by market capitalization. A technical analysis of XRP’s current standing reveals a bearish trend on both the daily and weekly charts.&nbsp;</p> 
<p>The bulls are evidently grappling to break free from the bears’ grip. However, the Exponential Moving Average (EMA) suggests that there is still resistance to an upward trend.</p> 
<p>Despite the current bearish signals, the continuous accumulation and disposition cycles from the whales may provide XRP with the necessary liquidity and volatility.</p>

Ripple News: XRP’s On-Chain Metrics Signal Notable Rise in 100M Whales

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