XRP has experienced a 10% surge recently as whales have engaged in a significant buying spree, adding 470 million tokens to their supply, equivalent to almost $300 million. This activity has been tracked using Santiment’s “Supply Distribution” metric.
The whales’ buying largely occurred when XRP was priced around $0.58, indicating their belief that this level presented a profitable opportunity. Their bet paid off as the cryptocurrency's price subsequently rose above $0.63 over the past weekend.
Monitoring whale activity could provide insights into future price movements. A continued rise in whale holdings signals bullish sentiment, while a decline may indicate profit-taking. As of now, XRP trades at approximately $0.631, up 8% over the past week.
