Whales holding between 1 million and 10 million XRP expanded their portfolios by 2.4% in just 11 days.
In the past 7 days, XRP showed resilience against huge selling pressure.
XRP has witnessed a consistent rise in network activity during the past 2 weeks. Just in the last 11 days, large addresses with holdings between 1 million and 10 million XRP expanded their portfolios significantly. Collectively, these addresses now hold 6.12% of the total supply.
The crypto market is currently going through one of its worst corrections in history. As a result, XRP, along with other digital assets, lost a substantial value since the start of 2022. However, just like in previous market corrections, whale activity across major crypto networks remained unaffected. In fact, crypto millionaires have started accumulating XRP and other digital currencies.
"XRP Network whales holding between 1M and 10M coins have collectively been accumulating, and now hold their highest percentage of the asset's supply in 2 months. This is the most active tier of non-exchange holders, and currently holds 6.12% of all XRP,” Santiment highlighted in a recent tweet.
Earlier this month, XRP whales moved almost 92 million coins in two separate transactions. Yesterday, a similar move was observed when Whale Alert highlighted a transaction involving the movement of 40 million XRP from an unknown wallet to the Bitso exchange.
Ripple and XRP
Ripple has formed several partnerships this year with different companies around the world to increase the adoption of RippleNet and XRP Ledger (XRPL). In April 2022, Allbridge, a prominent cross-chain bridge, announced the successful integration of XRPL.
The blockchain company, which is facing a lawsuit by the US Securities and Exchange Commission (SEC), is now planning to explore IPO options after the end of the lawsuit. Additionally, Brad Garlinghouse, Ripple’s CEO, highlighted the company’s growth in global markets.
“Our growth is almost all outside the United States. I think that’ll probably persist until we get the clarity and certainty in the U.S. we’ve been seeking,” Garlinghouse told CNBC in an interview earlier this month.
XRP has witnessed a consistent rise in network activity during the past 2 weeks. Just in the last 11 days, large addresses with holdings between 1 million and 10 million XRP expanded their portfolios significantly. Collectively, these addresses now hold 6.12% of the total supply.
The crypto market is currently going through one of its worst corrections in history. As a result, XRP, along with other digital assets, lost a substantial value since the start of 2022. However, just like in previous market corrections, whale activity across major crypto networks remained unaffected. In fact, crypto millionaires have started accumulating XRP and other digital currencies.
"XRP Network whales holding between 1M and 10M coins have collectively been accumulating, and now hold their highest percentage of the asset's supply in 2 months. This is the most active tier of non-exchange holders, and currently holds 6.12% of all XRP,” Santiment highlighted in a recent tweet.
Earlier this month, XRP whales moved almost 92 million coins in two separate transactions. Yesterday, a similar move was observed when Whale Alert highlighted a transaction involving the movement of 40 million XRP from an unknown wallet to the Bitso exchange.
Ripple and XRP
Ripple has formed several partnerships this year with different companies around the world to increase the adoption of RippleNet and XRP Ledger (XRPL). In April 2022, Allbridge, a prominent cross-chain bridge, announced the successful integration of XRPL.
The blockchain company, which is facing a lawsuit by the US Securities and Exchange Commission (SEC), is now planning to explore IPO options after the end of the lawsuit. Additionally, Brad Garlinghouse, Ripple’s CEO, highlighted the company’s growth in global markets.
“Our growth is almost all outside the United States. I think that’ll probably persist until we get the clarity and certainty in the U.S. we’ve been seeking,” Garlinghouse told CNBC in an interview earlier this month.
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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