The past few weeks have been tough for the cryptocurrency market, but XRP whales have used these conditions to rack up even more
With the global correction on the cryptocurrency market, numerous networks went through a strong correction on the market. But while some traders took losses and moved on, whales have been actively accumulating and increasing their positions with a discount.
Health data
According to an address holdings table containing over one million XRP coins, Whales added more than 6% to their previous holdings and currently have 3.3 billion XRP, which is roughly 2.6 billion dollars. dollars.
XRP’s strong accumulation trend began in December of the previous year with only 5.6% of addresses remaining in the whale tier. The local peak for the percentage of large wallets was reached in July before whales distributed 0.5% of their holdings.
The new accumulation trend started in September when the number of wallets with 1-10 million coins on the network hit 5.8%. Currently, whales represent 6.1% of all portfolios in the network.
According to the price history, XRP tends to have an inverse correlation with the indicator, which means that the percentage of whales on the network increases whenever the price drops continuously or instantly.
Asset market performance
According to the latest market data, XRP has continuously lost value over the past month and even reached a loss of 54% after testing the local floor of $ 0.62, which is the lowest point in the past. ‘active since July.
At press time, XRP is trading at $0.82 and shows 0.4% daily growth. Earlier this week, the asset retraced after the 23% rally begun on Dec. 6.
