Ripple Whales Go Crazy as XRP Price Can’t Stop Surging

Something flipped in the cryptocurrency markets over the past 24 hours or so, and many altcoins have started to pick up the pace after bitcoin’s massive double-digit rally.

Today appears to belong to XRP. The native token of the broader Ripple universe has skyrocketed by 30% in a day or so, surging to $1.30 for the first time since June 1. Recall that the asset slipped below $1.00 just last week for the first time in nearly two years. Its subsequent rebound has been nothing short of impressive.

XRP Whales Continue Accumulating

Perhaps the most notable change in the XRP ecosystem is the recent whale behavior. As reported at the end of the previous week, these large market participants scooped up 72 million tokens in just 24 hours as the asset fought to stay above $1.00.

Citing further data from Santiment Intelligence, popular analyst Ali Martinez noted that they continued with their massive accumulation spree by acquiring over 300 million tokens since the start of the current business week. Their total holdings have skyrocketed from around 16.05 billion on August 16 to approximately 16.36 billion today.

… Continue reading the full article at the original source below.