Whales in the XRP Ledger with between 1 million and 10 million $XRP on their wallets have been quietly accumulating tokens, to the point their holdings rose 2.4% over the past 11 days and now hold 6.12% of the cryptocurrency’s supply.
According to data from cryptocurrency analytics firm Santiment, large XRP whales have been accumulating to now hold “their highest percentage of the asset’s supply in 2 months.”
Whales have been quietly accumulating the cryptocurrency amid a wider cryptocurrency market downturn exacerbated by the collapse of the Terra ecosystem, which saw LUNA and its algorithmic stablecoin UST become nearly worthless.
Over the past 12 months, the price of XRP dropped by over 62%m compared to Bitcoin’s 26.3% and the S&P 500’s 5.8%. Year-to-date, the stock market’s benchmark index is down over 17%, while BTC is down 39% and XRP 54%.
Notably, a panel of cryptocurrency industry experts has predicted that the price of XRP will hit $2.55 by the end of the year, and sees it go as high as $3.61 by the end of 2025, and $4.98 by the end of 2030.
The panel’s prediction is based on Ripple having a positive outcome in its case against the U.S. Securities and Exchange Commission (SEC). Should Ripple lose, the panel sees XRP’s value drop to $0.68.
As CryptoGlobe reported, Finder’s panel has recently predicted the price of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), could hit $5,780 by the end of the year, and surge to $11,760 by 2025.
87% of the outlet’s XRP panel included Ethereum in their top-5 performing cryptoassets for the year. Other cryptocurrencies included BTC, Solana, Avalanche, and Terra.
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