XRP Millionaires Increase Holdings despite Price Challenges

Despite the recent drop in price, XRP witnessed a surge in demand from large investors in the past 90 days. XRP millionaires, addresses holding between 1 million and 10 million coins, now own 3.31 billion coins.

In total, the XRP holdings of large investors have increased by more than 6% in the last three months. During the same period, the price of the crypto asset has dropped by nearly 20%. The recent accumulation trend indicates that long-term holders are still confident about the future price growth of the digital currency.

“XRP is currently sitting at about $0.81, but smart money whale millionaires have kept up their one-year trend of accumulating more supply. Addresses with 1M to 10M coins hold 3.31B, including a 6% increase to their holdings in the past 3 months,” Santiment highlighted on Twitter recently.

XRP is one of the most dominant crypto assets in the world. With a market cap of $40 billion, the crypto asset accounts for almost 2% of the total market value of digital currencies. In the last seven days, XRP remained the best-performing cryptocurrency among the top 8 with price gains of more than 9%.

Struggling Bitcoin

While XRP and some of the other altcoins saw a decent recovery in the last few days, Bitcoin struggled to get any momentum due to increased selling pressure. The world’s most valuable digital asset touched a low of $46,800 on Friday and stayed below $50,000 for most of the days during the last week.

“Bitcoin struggled to recapture any momentum last week, in the aftermath of big falls the weekend prior. The crypto asset began the week trading below $49,000, and despite climbing to over $51,000 on Tuesday it has struggled to keep its value over the $50,000 level for the rest of the week,” Simon Peters, Market Analyst at eToro, commented on the latest BTC price movements.