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XRP saw massive accumulation by big holders in 2022, despite a bear market and all the baggage that came with Ripple Labs’ legal battle with the US Securities and Exchange Commission (SEC).
In the market, the XRP price has continued its downward trend since May’s plunge. The coin is currently trading around $0.3437.
According to on-chain statistics share Between 1 and 10 million coins of XRP addresses have been added to the holdings as 2022 draws to a close, according to analytics firm Santiment. According to the platform, these groups of XRP holders (sharks and whales categories) have recently seen their total numbers and share of supply skyrocket to all-time highs.
#XRP network Addresses of whales and sharks sharing 1M to 10M $XRP Tiers are accumulating rapidly towards the end of 2022. #AllTimeHigh. https://t.co/R8bDPUviq1 pic.twitter.com/4GyrMPxYPV
Santiment (@santimentfeed) December 20, 2022
On-chain data shows that the cohort of whales and sharks in the XRP ecosystem managing wallets of 1-10 million XRP increased to 1,617 in December.
The rapid accumulation seen in these two tiers occurred over the past few weeks as cryptocurrency prices plummeted amid the FTX epidemic.
However, the recession appears to have offered large XRP accounts an opportunity to buy at lower prices, with addresses in the above categories increasing the proportion of the circulating supply. owns 7.23% of
Both this and the number of addresses highlighted above are trending at all-time highs.
