The number of cryptographic portfolios holding at least 1 million XRP tokens has reached a record level, coinciding with a 26% increase in XRP price during last week.
“Not only are there more XRP whales than ever, but the total offer they hold also increases,” the onchain health analysis platform said on Friday in a report, noting that the number of portfolios holding more than a million XRP tokens (XRP) has reached a new summit of all time of 2,743.
47.32 billion XRP tokens are now held by whales
“XRP also shows signs of strength,” said Santiment. “This double trend is a very positive sign for the fourth largest cryptographic asset,” they added.
Santiment data show that 47.32 billion XRP chips are held by cryptographic wallets holding at least 1 million tokens.
XRP jumped 26% in the last seven days, trading at $ 2.80 at the time of publication, according to CoinmarketCap data.
In the past 24 hours only, it has increased by 10%. Meanwhile, quince data shows that overvoltage has increased $ 31.44 million in short XRP positions.
Last month, June 18, the merchants were divided into the next management of XRP while the cryptocurrency had been consolidated for almost 200 days in a range of $ 1.90 to $ 2.90.
The Altcoin season started, says Santiment
However, the recent XRP rally is part of a broader escape from the market which saw Bitcoin (BTC) reaching consecutive summits of $ 112,000 Wednesday and $ 116,500 on Thursday.
In relation: Ripple Linqto shareholder files for the bankruptcy of chapter 11
Ether (ETH) also increased, up 17.51% during the week, trading at $ 2,958 at the time of publication.
Santiment said that the metrics show that the Altcoin season had started. “The data confirm that, for the moment, it has done,” said Santiment.
“As long as Bitcoin can maintain its position above the level of crucial psychological support of around $ 110,000, merchants will probably feel comfortable to redistribute the benefits in altcoins,” they added.
Review: Inside a 30,000 phones farm, stealing crypto Airdrops to real users
