As the recent bullish wave brought advances to many assets in the cryptocurrency market, XRP has crossed a critical psychological price mark for the first time since early August, and whales have been accumulating at the highest levels this year.
Specifically, the XRP holdings of cryptocurrency wallets with between 100,000 and one billion of the asset have reached 45.8% of its total supply – the highest level in 2023, whereas the market value of XRP Ledger’s cryptocurrency surpassed $0.68 for the first time since August 2, according to recent data.
It is also important to note that the increased whale accumulation and market value have accompanied the largest spike in XRP discussion rates since mid-July and XRP’s move up 23% against the price of Bitcoin (BTC) in the past week alone, as shared by the blockchain analytics platform Santiment on November 6.
XRP whales holdings and social dominance. Source: Santiment
XRP price analysis
Indeed, the price of XRP at press time stood at $
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