XRP Whales Are Accumulating The Digital Asset; Ethereum Bulls Are Around The Corner

There are some interesting things taking place in the crypto space these days. Check out the latest reports about XRP and Ethereum as well.

It’s been recently revealed that the Blockchain analytics firm Santiment reveals that whales holding between 1 million and 10 million XRP are stocking up on XRP amid the current volatility of the digital assets market.

Santiment just noted that the richest non-exchange XRP wallets increased their collective holdings by 2.4% in just 11 days.

“XRP whales holding between 1M and 10M XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months. This is the most active tier of non-exchange holders, and currently hold 6.12% of all XRP.”

Santiment also said that the group of whales holding at least 10 million XRP hold’s a majority of the coin’s total supply.

Yes, that’s correct, Brad. For reference, here are the top 3 tiers of whales, all using different axes. The yellow line is the one you’re referring to, which is the tier of addresses holding 10M or more $XRP. They tend to be fairly inactive, and currently hold 73% of the supply. pic.twitter.com/ubGUpscPU2

— Santiment (@santimentfeed) May 26, 2022

The same analytics firm also addressed the current state of Bitcoin. They note that the number of wealthy BTC holders is also on the rise.

“As Bitcoin continues treading water at $29.6k, the amount of key whale addresses (holding 100 to 1k BTC) continues rising after the massive dumping from late January. We’ve historically seen a correlation between price & this tier’s address quantity.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $28,748.

Despite the massive market volatility, there are all kinds of interesting events that are taking the digital assets on the successful path of crypto adoption.