XRP Whale Accumulation Surges: Can It Clear $1.60?
XRP's price surged by 8.22% over three days after large-scale accumulation by major holders, according to a report by The Crypto Basic on September 21. This increase in price coincided with a rise in large holders' balances, which grew from approximately 8.1 billion XRP before the accumulation to around 9.7 billion on September 19, as per data from Santiment.
The largest increase in large holders' balances occurred between September 16 and 17, and they held this higher balance over the following two days. The price of XRP rose after the large-scale accumulation, but it is unclear whether there is a direct causal link between the two events.
According to Glassnode's XRP realized price distribution data, the most pronounced concentration of supply just above the current price is around $1.60. Approximately 2.5 billion tokens were last moved at this level. If the price rises, it may encounter additional concentrations around $1.68, $1.86, $2.19, and $2.29.
Realized price distribution is an indicator that segments supply based on the price at which an asset last moved. It differs from data showing cumulative trading volume over a certain period or sell orders currently placed on exchanges.