Santiment Data Unveils Increased XRP Whale Accumulation, Indicating Strengthening Price Rebound
Santiment, a blockchain analytics platform, has revealed that significant investors are propelling XRP towards recovery following a recent dip in the broader cryptocurrency market.
Recent data suggests that whales engaged in a substantial accumulation phase, contributing to the rise in XRP’s value. With a 4% surge in price, Santiment notes that this increase is backed by some of the largest XRP whales. These whales, with 221 addresses holding between 10 million and 1 billion XRP each, now collectively possess 16.13 billion tokens valued at $8.71 billion. XRP’s current reflecting a 2.9% drop over the last 24 hours.
Additionally, Santiment identifies signs of recovery in other altcoins, including Litecoin (LTC) and Stellar (XLM), based on the market value to realized value (MVRV) metric, which evaluates the valuation status of crypto assets. Litecoin is marking a 2.2% increase over the last 24 hours, while Stellar’s value is representing a 3.7% decrease over the same period. Santiment also observes significant social media chatter about Donut (DONUT), suggesting anticipation of the project’s potential listing on a major crypto exchange. Cautioning against overhyped listings, Santiment highlights the rising interest in Donut, which provides token rewards for Reddit posts. Currently, Donut is indicating a 14.1% decline in the past 24 hours.
Clever Robot News Desk 23th August 2023