XRP 30-day and 365-day active addresses have surged by over 23% and 43%, respectively, amid rising investor interest and whale accumulation.
Following Ripple’s victory over the United States Securities and Exchange Commission (SEC) last week and Judge Analisa Torres’ classification of XRP as a non-security, interest in the XRP Ledger native token has increased exponentially.
This is evidenced in the astounding growth of active addresses on the XRP network over the past month and year. According to insights from the popular behavior analytics platform Santiment, active addresses on the crypto network saw an average increase of 23.7% in the last 30 days.
Accordingly, this stupendous one-month growth resulted in an average increase of 43.2% in the 365-day active addresses count on the network. Further, Santiment noted that watching the developments with active addresses is essential to understand how XRP price would behave in the coming weeks and months.
XRP Whale Actions Rises
The leading blockchain analytic platform revealed that millions of XRP tokens had been bagged by deep-pocketed investors even before the exciting ruling in the SEC vs. Ripple case.
In particular, the latest Santiment data showed that approximately 838 million XRP tokens have been accumulated by addresses holding between 100,000 to 100 million XRP tokens since May.
Notably, more than 637 transactions valued at over $100,000 were recorded on July 13 following the verdict from Judge Analisa Torress that XRP is not a security. These rising whale and shark accumulations contributed to XRP trading volume eclipsing 4.46 billion on July 13, marking the highest level of XRP trading in over ten months.
Meanwhile, it bears mentioning that wallets holding at least one million XRP have surpassed 1,900, as recently reported by The Crypto Basic. Amid these increasing whale actions, a top analyst submitted that XRP would never break its all-time high, urging investors to trade cautiously.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Source: https://thecryptobasic.com/2023/07/22/santiment-shows-surge-in-xrp-active-addresses-and-whale-accumulation/?utm_source=rss&utm_medium=rss&utm_campaign=santiment-shows-surge-in-xrp-active-addresses-and-whale-accumulation