Main Reason for 36% XRP Price Surge Revealed by Analysts
In a recent tweet, popular on-chain data aggregator Santiment highlighted a key factor driving the massive surge in XRP price. According to Santiment, the accumulation of XRP by large whales played a significant role in the coin’s 36% price jump observed between July 7th and 13th. Their chart showed that these whales, holding between 10 million and 100 million XRP, acquired around $300 million worth of XRP between July 12th and 15th. Additionally, wallets containing 100,000 to 1,000,000 XRP purchased a similar amount. Santiment suggested that continued accumulation by these key stakeholders should be monitored closely to gauge the impact on XRP’s price. Furthermore, the tweet warned traders and investors about the high level of FOMO surrounding XRP, cautioning them to conduct their own research before investing. Overall, this accumulation by large whales has been a key driver behind the impressive growth of XRP in the past week.