Cryptocurrency analysis company Santiment analysts mentioned interesting data about the Ripple (XRP) network in their analysis published today.
According to analysts, the XRP Ledger network is seeing much lower levels of cryptocurrency whale activity than in 2011 and 2022. This happened despite the fact that the XRP token was in trouble with the SEC at the time and the case was thought to be lost. However, at a time when whale activity is low, it is noteworthy that there are developments in favor of Ripple in the XRP-SEC case.
According to the data, the number of weekly transactions worth over 100 thousand dollars on the XRP Ledger network dropped below 4,000.
On the positive side, Santiment analysts explained that whales and sharks in the Ripple network are increasingly accumulating more of the XRP supply. While last year the amount of coins held by cryptocurrency wallets holding between 100 thousand and 100 million Ripple tokens was 7.16 billion dollars, this year it increased to 7.89 billion dollars.
In terms of price, Ripple price is trading 0.23% lower than last year.
Shark cryptocurrency wallets are smaller in scale than whale cryptocurrency wallets, but still represent a group that should be given importance in terms of the total supply they hold.
*This is not investment advice.