Ripple Rally's Early Warning Signs Hidden in On-Chain Data

Analysts have been poring over on-chain data for clues about XRP's explosive August rally. A fresh look at Santiment Intelligence's numbers reveals an interesting detail.

In the two days leading up to the price surge, which saw XRP jump from $0.98 to $1.64 between Aug 17 and Aug 21, 85 new addresses holding at least 1 million XRP appeared on the ledger.

This represented a 4.2% increase in million-XRP addresses over one day, pushing the total number of such wallets toward 2,110.

While this doesn't necessarily prove that whales caused the rally, the timing is intriguing. The wallet expansion occurred before XRP's breakout, suggesting that large-scale investors may have been preparing to move the price upward.