7.2 C
Manchester
September 25, 2020
Image default
Altcoin

XRP whales accelerate accumulation. Will the price go up?

The main holders of XRP are in an accumulation wave, despite the token’s low price performance.

According to data provided by the ledger.exposed, the site created by XRPL Labs developer Wietse Wind, XRP whales have recently entered an accumulation wave.

Each “exclusive” percentage level (from 0.01 to 1%) recorded a notable increase in the number of tokens retained.

“There is a serious accumulation of $ XRP among the largest portfolios. Thanks (as always!) @WietseWind for these statistics at https://ledger.exposed/rich-stats#percentage

Elite Club

As of now, to join the ranks of the richest whales in Ripple’s cryptocurrency (0.01 percent of total addresses), you need to accumulate 23,298,725 XRP (about $ 4.4 million at the time of printing) ).

In the past ten months, the limit for joining the smallest fraction of Ripple’s cryptocurrency holders has skyrocketed by 64%.

XRP has one of the highest levels of wealth inequality among the largest cryptocurrencies, with whales controlling more than 85% of its supply.

Becoming one percent, however, is not as challenging for an XRP holder, as he only requires 80,000 tokens ($ 14,448).

It is worth mentioning that ledger.exposed does not take into account the tokens held by Ripple Labs in its deposit.

Analyze

Despite this strong accumulation of whales, the price of XRP has so far failed to move a needle, currently worth just $ 0.18.

The token is in trouble and reached its lowest level against Bitcoin in more than two years on June 22.

Source: U.Today

Related posts

Binance destroys millionaire amount in BNB burning

Anupreet Kaur

20% of all transactions on RippleNet are made with XRP

Anupreet Kaur

Did Zcash and Dash lose their privacy?

Anupreet Kaur

Leave a Comment