Whale Accumulation Fuels XRP Price Recovery Amid $1.5 Billion Liquidations

XRP holders have seen their token plummet by 69% since its January high. The cryptocurrency's price dropped to $0.99 on August 11, marking a significant low point for XRP in almost two years.

However, despite this decline, large investors, known as 'whales' in the crypto market, have been accumulating tokens at an alarming rate. Over 380 million XRP were added to major wallets during this period, while smaller traders sold off their positions under stress.

This trend is reflected in on-chain data showing a significant increase in large wallet activity, particularly as prices bottomed out. The number of wallets holding over 1 million XRP rose above 2,000, with total holdings nearing 8 billion XRP.