XRP (XRP), Whale address count decreased but holdings at highest in 7 years

JH Kim

Summary

The number of whale addresses holding 100 million or more XRP decreased by 20.6% compared with 8 weeks ago, but their total holdings recorded the highest level in seven years.
Santiment said that large assets are becoming more concentrated in some addresses, and the market is assessing that whale concentration could increase price volatility in the short term.
XRP has recently seen expanded volatility, and it is expected that macro indicators and changes in the regulatory environment will affect the medium- to long-term trend.

XRP (XRP) whale address count decreased, but holdings were recorded at the highest level in seven years. Analysis shows that despite recent market volatility, the concentration of XRP among large holders is intensifying.

On the 1st (local time), according to crypto (cryptocurrency) social data analytics firm Santiment, the number of whale addresses holding 100 million XRP or more decreased by 20.6% compared with 8 weeks ago. On the other hand, the total amount of XRP they hold was counted at 4.8 billion XRP, marking the highest in seven years.

Santiment explained, "The fact that balances increased while the number of whale addresses decreased means that large assets are becoming more concentrated in some addresses." This suggests that some whales may be accumulating holdings amid recent price fluctuations and weakening liquidity.

In the market, there is also assessment that whale concentration could increase short-term price volatility. However, there is also analysis that XRP is shifting toward a structure centered on institutions and long-term holders.

Meanwhile, XRP has seen expanded volatility along with the recent broad market weakness, and macro indicators and changes in the regulatory environment are expected to influence the medium- to long-term trend.