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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Accumulation: Key Sharks And Whales Group Hits All-Time High Holdings

Keshav Verma
Keshav Verma
2 years ago
3 mins read

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On-chain data shows a key XRP sharks and whales group has been accumulating recently, a sign that could be positive for the asset’s price.

XRP Whales And Sharks With 1M-10M Tokens Now Hold All-Time High Supply

As per data from the analytics firm Santiment, 7.23% of the total XRP supply is now held by this key investor group. The relevant indicator here is the “Supply Distribution,” which tells us how the total supply is distributed across the different wallet groups in the market right now.

These “wallet groups” are bands that define ranges between which the number of coins held by wallets belonging to a particular group lies in. For example, the “100-1,000 coins” group includes all addresses that are holding at least 100 and at most 1,000 XRP tokens.

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The Supply Distribution metric has two versions; one shows the number of wallets (or more simply, the number of holders) belonging to each cohort, while the other measures the supply percentages contributed by each group. Now, here is a chart that shows data for both these Supply Distribution metrics for the 1M-10M coins band:

XRP Whales And Sharks Accumulation

Looks like the values of both these metrics have climbed up in recent days | Source: Santiment

The 1M-10M coins band is an important cohort for XRP as it includes both sharks and whales. Though, the largest whales aren’t included in this group, as the upper level of the band is just 10 million tokens, which is worth around $3.4 million at the current exchange rate.

From the graph, it’s apparent that the number of investors belonging to this key group has gone up recently, and the metric’s value now stands at 1,617, which is an all-time high. The percentage of the total XRP supply held by this cohort has observed an even sharper uptrend this month, as these sharks and whales now account for around 7.23% of the total tokens in circulation, which is also a new record.

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It would appear that these whales and sharks are looking to end the year 2022 with some heavy XRP accumulation, something that is likely to have a bullish effect on the crypto’s price in the long term.

XRP Price

At the time of writing, XRP’s price floats around $0.34, down 12% in the last week. Over the past month, the crypto has lost 5% in value.

The below chart shows the trend in the price of the coin over the last five days.

XRP Price Chart

The value of the crypto seems to have not seen any significant movement during the last few days | Source: XRPUSD on TradingView
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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