XRP whale wallets accumulated approximately 1.54 billion tokens worth about $2.2 billion within a 96-hour period, according to data from market analyst Ali Martinez citing Santiment. The accumulation marked a significant increase in large holder positioning for the cryptocurrency.
Data shows XRP holdings among large wallets climbed from roughly 8.27 billion tokens on September 15 to about 9.81 billion by September 19. Whale-held balances remained relatively stable near 8.3 billion XRP before surging sharply above 9.6 billion between September 16 and September 17, then continuing to rise over the following days.
At the time of the accumulation, XRP was trading near $1.41. Large-scale whale buying activity has historically been interpreted as a signal of confidence among investors with significant capital, though it does not guarantee immediate price movement.
Market Context
The whale accumulation occurred during a period of improved market sentiment across digital assets. The Crypto Fear and Greed Index stood at 71, signaling strong investor appetite for risk assets. XRP recorded 16 positive trading sessions in the past 30 days, representing a 53% green-day ratio.
Technically, XRP remained above its 50-day simple moving average of $1.25 and its 200-day simple moving average of $1.27. The asset's 14-day Relative Strength Index stood at 56.49, placing it in neutral territory.
Supply and Demand
The whale accumulation reduced the amount of XRP available on the open market. If demand remains stable or increases, the reduction in available supply could provide additional support for prices.
