XRP Whales on Accumulation Binge As Ethereum (ETH) Flashes a Bullish Signal, According to Crypto Analytics Firm

Blockchain analytics agency Santiment reveals that whales holding between 1 million and 10 million XRP are stocking up on the sixth-largest cryptocurrency by market capitalization amid the present volatility of the digital property market.

According to Santiment, the richest non-exchange XRP wallets elevated their collective holdings by 2.4% in simply 11 days.

“XRP whales holding between 1M and 10M XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months. This is the most active tier of non-exchange holders, and currently hold 6.12% of all XRP.”

Source: Santiment/Twitter

Santiment says that the group of whales holding no less than 10 million XRP maintain’s a majority of the coin’s complete provide.

Santiment says that the variety of rich Bitcoin holders has additionally elevated as of late. The agency says that the amount of wallets holding between 100 to 1,000 BTC has risen regardless of the decline in price of the flagship digital asset.

“As Bitcoin continues treading water at $29.6k, the amount of key whale addresses (holding 100 to 1k BTC) continues rising after the massive dumping from late January. We’ve historically seen a correlation between price & this tier’s address quantity.”

Source: Santiment/Twitter

Looking at Ethereum (ETH), the agency notes that transaction charges not too long ago dropped to $2.54, the bottom for the good contract platform since July. Santiment says that the price of ETH traditionally will increase after charges go beneath $5.

“Ethereum’s average fees are at an extreme low, costing traders just $2.54 per transaction currently. This is the lowest ETH cost level since July. Historically (but by no means automatically), ETH prices rise after average transactions dip below $5.”

Source: Santiment/Twitter

At time of writing, XRP is value $0.40. Bitcoin is buying and selling for $29,290 and Ethereum is altering fingers at $1,802.

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Featured Image: Shutterstock/YanaBarantsava

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