XRP Whales Pushing for Price Recovery, Says Santiment
Blockchain analytics platform Santiment reports that XRP is showing signs of price recovery after a recent dip in the broader crypto market. According to Santiment, deep-pocketed investors, or whales, have been accumulating XRP, which has helped drive up its price. The platform notes that there are 221 addresses holding between 10 million and 1 billion XRP, with a combined value of $8.71 billion. Santiment also mentions that other altcoins, such as Litecoin (LTC) and Stellar (XLM), are also displaying signs of recovery. The firm believes that these recoveries may continue based on the market value to realized value (MVRV) metric.
Whales Accumulating XRP
- XRP’s price is being supported by large investors
- 221 addresses hold between 10 million and 1 billion XRP
- Combined value of these addresses is $8.71 billion
Altcoins Showing Recovery
- Litecoin (LTC) and Stellar (XLM) are also recovering
- Market value to realized value metric indicates potential for further recovery
- Crypto assets were undervalued after market caps dropped last week
Speculation Surrounding Donut (DONUT)
- Donut may get listed on a major crypto exchange
- Social media discussion about Donut has increased
- Traders should be cautious of over-anticipated listings
Hot Take: XRP’s price recovery, supported by whales’ accumulation, indicates positive momentum for the cryptocurrency. With other altcoins also showing signs of recovery, the crypto market may continue its upward trend. However, traders should exercise caution when it comes to highly anticipated listings, as the mainstream crowd may already be aware of them.
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