On-chain data shows that XRP accumulation has surged, with the number of tokens on exchanges declining. Santiment reports that 20 new whale wallets holding between 1 million and 10 million XRP tokens have emerged in the past 30 days, totaling 1,583 such wallets.
Whale transactions worth at least $100,000 have increased by 208% in the past day, from 159 to 489. Despite this, XRP’s price remains relatively stable, rising just 0.4% to $0.478. The asset’s market cap stands at $26.6 billion, with a 42% spike in daily trading volume to $770 million.
The exchange inflow of XRP rose by 30%, but the outflow surged by 564%, indicating new holder accumulation. Since January 30, XRP supply on exchanges has been declining, now at 2.82 million tokens. The XRP Relative Strength Index (RSI) is at 43, suggesting a potential price hike.
The strategic accumulation and reduced exchange supply indicate strong long-term confidence in XRP’s value.
