Surge in XRP (Ripple) Adoption: 860,000 Investors Choose this Altcoin in Recent Month

• Despite a decline in XRP’s value, the count of XRP whales has risen over the past month.
• The number of XRP investors holding between 1,000 and 1,000,000 tokens has increased, according to data from Santiment.
• This rise in whale count often precedes a rally in the asset’s price, indicating potential growth for XRP.

Despite a dip in value, XRP sees a rise in whale count, indicating potential growth and increased demand among market participants. This article delves into the details and implications of this development.

Rise in XRP Whale Count

The number of XRP investors holding between 1,000 and 1,000,000 tokens has seen a rise over the past month, despite a decline in the altcoin’s value. According to data from Santiment, this cohort of XRP holders now totals 860,000, marking a 0.23% increase in the last 30 days. This growth, albeit minute, is noteworthy as it follows a sharp decline in the number of XRP whales in this category.

Significance of Whale Count Increase

A hike in an asset’s whale count is significant as it often precedes a rally in its price. Despite the recent market downturn affecting XRP and causing a 7% value loss, demand for the altcoin persists among market participants. Key momentum indicators on the daily chart, such as the Chaikin Money Flow (CMF), have trended upwards despite the decline in price. This bullish divergence indicates that buyers are accumulating the asset despite the price drop, potentially because they believe the price decline i... Read the full article for FREE at COINOTAG!