XRP Whale Wallets Soar Ahead of Price Surge
A significant surge in large holding wallets of XRP just before its 67% price increase has been observed, according to on-chain analytics platform Santiment.
The data showed that 85 new wallets with at least 1 million XRP were created two days before the price surge from August 17 to August 21.
This trend suggests the possibility of advance buying by large holders, which can increase buying pressure and reduce tradable supply.
Santiment also noted an expansion of on-chain activity, including increased usage of the XRP Ledger (XRPL) and Ripple's investments in various projects such as ZILO and Licuido.