Crypto market intelligence platform Santiment has found that XRP Ledger (XRPL), a decentralized public blockchain that enables fast, low-cost, real-time transfers of XRP, fiat currencies, and digital assets, has been seeing less whale activity in 2023 compared to the last two years.
In a post on X, the crypto analytics platform said that despite declining activity, whales and sharks have continued accumulating more of the XRP supply.
XRP Accumulation Continues as XRPL Whale Activity Declines
Santiment disclosed that wallets holding between 100,000 and 100 million XRP have increased their coins from $7.16 billion a year ago to $7.89 billion. These whales and sharks collectively hold 26.8% of the 53.39 billion XRP in circulation.
On the other hand, the XRP Ledger is averaging around 3,800 whale transactions worth $100,000 and above per week.
Santiment’s disclosures come as American business magazine Forbes predicts that a U.S. economic downturn could benefit the crypto industry, with t
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