XRP ACCUMULATION.
Since Donald Trump's arrival in the White House, the XRP cryptocurrency seems to be rising from the ashes. This is largely associated with the regulatory relaxation enjoyed by the Ripple project, even though the power cord has been cut. This situation seems to encourage whales, who are accumulating despite—or because of—the recent decline in this cryptocurrency. They have just increased their holdings by more than 6.5% over the past two months.
Whales are wallets that hold a significant amount of certain cryptocurrencies.
As a result, they can help identify internal dynamics that could lead to a possible future trend change.
These digital mammals often take advantage of bearish periods to accumulate ever more funds. This allows them to buy them back on sale from investors with more shaky hands.
And, clearly, this is exactly what is happening with XRP. At least, according to the latest data published by Santiment.
"Wallets with at least 1 million XRP now hold 46.4 billion tokens, following a 6.5% increase in the last two months alone."
This accumulation comes as the XRP price has managed to stabilize above the 2$ level since last December. A record it hadn't reached since 2017, still quite far from its peak at $3.40.
Clearly, these XRP whales are hoping to take advantage of the regulatory easing implemented in the United States.
The cryptocurrency market is positioning itself in the starting blocks in the face of hopes of a bullish reversal. Because despite the palpable disillusionment among investors, a bear market is not yet on the cards. And the XRP whales seem to have understood this. #RippleVictory