Interestingly, XRP’s declining price is not stopping large investors from accumulating.
While retail sentiment wanes and the top altcoin slips below the psychological $1 mark, on-chain data shows more large holders positioning themselves for a potential recovery.
According to leading analytics provider Santiment Intelligence, XRP wallets holding at least 10,000 coins have climbed to approximately 343,500 so far this month. More notably, this is an increase of 16,815 wallets, or 5.15%, over the past nine months.
This growth stands out despite XRP’s dwindling performance, as the cryptocurrency has dropped roughly 30% over the past seven weeks.
Why is this the case? Well, this downtrend is not stopping the shark and whale wallet count from climbing.
Therefore, this divergence suggests that some large investors may be viewing the selloff as an accumulation opportunity rather than a reason to exit.
According to CoinGecko data, XRP is trading at $0.99, slightly below the psychologically important $1 threshold.
Can XRP Reclaim $1.15?
XRP’s immediate battle is to reclaim and defend the psychological $1 threshold, as a sustained recovery could open the door to the $1.10-$1.15 zone and attract renewed buying interest.
Adding to XRP’s broader narrative, the U.S. Department of Energy is in high gear exploring the XRP Ledger for blockchain-based energy market settlements.
This development highlights the potential for blockchain technology to streamline energy-related transactions and settlement processes, igniting the conversation about broader real-world applications.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.