XRP whale wallets rise for the first time in four months… U.S. ETFs also on track
Summary
- On-chain analytics firm Santiment said the number of wallets holding at least 1 million XRP has shifted back to growth for the first time since September last year.
- According to crypto analytics firm SoSoValue, U.S. spot XRP ETFs recorded net inflows of $92 million this month.
- CoinDesk reported that despite the decline in prices, the rise in the number of large-holder wallets and steady ETF inflows suggest that quiet accumulation is underway.
The number of wallets holding at least 1 million XRP has turned higher for the first time in four months.
On-chain analytics firm Santiment said via its official X account that “the number of wallets holding at least 1 million XRP has shifted back to growth for the first time since September last year.” Santiment added that “(these wallets) increased by 42 on a net basis,” calling it “an encouraging sign from a long-term perspective.”
U.S. spot XRP exchange-traded funds (ETFs) are also progressing smoothly. According to crypto analytics firm SoSoValue, spot XRP ETFs recorded net inflows of $92 million this month. Spot XRP ETFs previously posted monthly net inflows for two consecutive months from November to December last year.
However, the token’s price is declining. According to CoinMarketCap, XRP was trading in the upper $1.80s as of today, down about 1.9% from the previous day. Compared with a week ago, it is down about 3.5%. CoinDesk reported that “while price action is sluggish, the increase in the number of wallets held by large holders and steady ETF inflows suggest that quiet accumulation is underway rather than speculative overheating.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
