Rapid growth seen in Shark & Whale population, indicating bullish signal for XRP. 🚀

XRP’s Big Players Surge: Sharks & Whales on the Rise 🦈🐋

Recent data from the on-chain analytics firm Santiment reveals a significant increase in the number of shark and whale wallets on the XRP network in the past few weeks. The metric of interest here is the “Supply Distribution,” which tracks the addresses belonging to specific wallet groups based on their coin holdings.

Investors holding between 1 and 10 XRP fall in the 1 to 10 coins group.
The 10,000+ coins group, which includes heavyweight investors like whales and sharks, is currently gaining attention.

Sharks and whales are crucial players in the market, and their activities can impact the price of the cryptocurrency, with whales holding more influence due to their larger holdings.

XRP Supply Distribution Trends 📈

The chart depicting the trend in the XRP Supply Distribution for the 10,000+ coins group shows a recent surge in these high-value wallets accumulating the cryptocurrency. The indicator has now reached 279,400, its highest point in six months.

Earlier this year, the indicator was on a downtrend, in line with the bearish momentum of XRP’s price.
Since the recent uptick in the Supply Distribution of sharks and whales, the price of XRP has started to show signs of bullish momentum.

According to Santiment, the correlation between these wallets and XRP’s market value has been evident throughout the year. Monitoring this indicator closely could provide insights into potential bullish outcomes for the cryptocurrency.