Crypto Whales Are Starting To Currency XRP, This Is According To Santiment Data!

XRP crypto assets get the attention of crypto whales. (Photo; Doc. Binance)

JAKARTA - XRP, a crypto asset developed by Ripple, has not shown impressive performance in recent times. Although the price of XRP has risen by about 11% in a month, it is still lagging behind other cryptocurrencies in the market. Currently, XRP is trading around US$0.60 or Rp9,258 per coin.

However, not all XRP investors are pessimistic. Recent data show that a large number of XRP holders, known as whales, are increasingly optimistic about this asset. According to crypto analyst Ali Martinez, these whales have acquired around 11 million XRP, equivalent to 6.82 million US dollars or Rp105.23 billion in the past week.

Data from crypto analytics Santiment shows a significant accumulated phase for XRP. This accumulation occurs as these whales take advantage of the decline in XRP prices to increase their holdings.

However, not all XRP whales do the same. One of the whales recently made massive XRP transfers to two crypto exchanges, Bitstamp and Bitso, on November 23.

In the first transaction, the unidentified wallet transferred 25.20 million XRP to Bitstamp, with a market value exceeding 15.66 million US dollars (Rp241.72 billion). Likewise in the second transaction, the same wallet transferred 25 million XRP to Bitso, with a value of around 15.55 million US dollars or Rp239.83 billion.

This transfer drew great attention from crypto traders and investors, indicating differences in sentiment among the whales. Whale Alert, a blockchain tracking platform, reported another major transfer by the same whale on Monday, November 17, 2023, in which an additional 25.5 million XRP, equivalent to 15.722 million US dollars or Rp242.54 billion, was delivered to the Bitstamp crypto exchange.