The price of the payments-focused cryptocurrency XRP has increased by more than 8% in five weeks and during this time there has been a notable divergence in the accumulation trends of large holders or whales and small holders.
According to on-chain data from Santiment, wallets holding between 100,000 and 100 million XRP added 2.8% more coins to their balances over the past five weeks. This accumulation of whales and sharks coincided with the token’s rebound to $1.16 from $1 in late June, suggesting stronger hands are leaning into the current price action.
At the same time, the smallest portfolios lost 5.2% of their holdings during the same period. This capitulation by smallholders stands in stark contrast to the buying pressure from key stakeholders.
These divergent trends are bullish for XRP, according to Santiment.
“Historically, XRP price has tended to move more with major stakeholders and against smaller retail wallets, so this breakdown supports the bullish argument behind the rebound,” the company noted on
The timeline aligns with several positive fundamental developments for XRP, such as improved institutional access through potential ETF products and continued utility on the XRP Ledger for payments, tokenization and the RLUSD stablecoin, the company explained:
