Examining XRP’s state as whales scoop up millions of tokens

AMBCrypto
AMBCrypto

30 Jun 2023 12:30 PM

XRP whales increased their accumulation in the last few days when its price declined. The effects of which are already being seen as the token's price went up. ...

  • Network activity on XRP has increased over the last week, with daily active addresses and network growth on the rise.
  • Whales have been accumulating XRP, with large investors hoarding tokens worth over $170 million in the last seven days.
  • Despite higher accumulation, the total number of token holders remained flat.
  • XRP's price increased by more than 2% in the last 24 hours, reaching $0.4797 with a market capitalization of over $25 billion.
  • XRP's position in the derivatives market looked bullish, with stable open interest and high demand.
  • Sentiment around XRP improved, as reflected by increased social volume and a rise in weighted sentiment.

The sentiment around XRP has improved, with positive sentiment being dominant in the market. This is reflected in the increased social volume and the rise in weighted sentiment.

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You May Ask

How has network activity on XRP changed over the last week?What was the price increase of XRP in the last 24 hours?How much XRP did whales accumulate in the last seven days?What is the position of XRP in the derivatives market?Has sentiment around XRP improved or worsened recently?

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