XRP Whale Wallets Surge to Six-Month High, Indicating Market Interest

IconCryptoNewsTerminal Staff01 Aug, 2024

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XRP Whale Wallets Surge to Six-Month High, Indicating Market Interest

The number of cryptocurrency wallets holding over 10,000 XRP has surged to a six-month high, according to data from on-chain crypto analytics platform Santiment. This indicates a growing interest in XRP in the market. The number of addresses holding at least 10,000 XRP has grown to 280,000 over the past five weeks. This growth has occurred even as the price of XRP has risen by more than 37% in the past month. These addresses represent so-called "XRP whale wallets." These wallets typically belong to large investors, institutions, or exchanges. The growth in the number of these wallets suggests that interest in XRP is increasing among these groups. This surge in whale wallets is a positive sign for the future of XRP. It indicates that there is a growing demand for XRP, which could lead to further price increases in the future.

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