XRP (CRYPTO: XRP) is seeing growing whale accumulation, surging network activity and rising derivatives leverage despite underwhelming price performance.
Whales Countering Selling Pressure?
In an X post on Aug. 11, Santiment data showed that the number of XRP Ledger wallets holding at least 1 million XRP has increased by 32 over the past three months despite a 29% punge in XRP’s market capitalization.
The divergence suggests large holders have continued accumulating during the market downturn rather than retreating alongside prices.
Santiment pointed to Ripple’s RLUSD (CRYPTO: RLUSD) stablecoin as another fundamental development, noting its growing institutional presence alongside Ripple’s payments, custody and tokenization infrastructure.
