The Ripple network just received these whale addresses, which can store between 10 million and 100 million XRP.
As up to 50 whale addresses holding between 10 million and 100 million XRP have been added to the Ripple network in the last month, investors are pouring money into XRP, Ripple's native asset.
Popular cryptocurrency analyst Ali recently brought the bullish trend to the public's notice using data from the market intelligence tool Santiment.
The Santiment graphic shows that between February 21 and February 23, there was a significant increase in the number of whale addresses holding between 10 million and 100 million XRP. These whale addresses were slightly more than 116 in number as of February 16 prior to this dramatic surge.
Yet, after the quick increase, they increased to a peak of 176 before seeing a minor decline. These addresses are currently at 171 as of publication, despite the drop. This amount is the greatest value seen all year.
Moreover, during the previous month, these addresses have significantly increased their overall cumulative balance, accumulating 420 million XRP, which is presently worth $161 million. As a consequence, the total balance of 4.03 billion XRP, valued at $1.54 billion at the time of writing, has been generated.
Moreover, the total number of addresses on the Ripple network has increased to 4.625 million at this time. On March 1, the number of addresses exceeded the 4.6 million mark. According to information from Messari, among these, up to 295 addresses presently own XRP coins worth at least $10 million. Moreover, there are now 955 addresses that hold XRP valued at least $1 million.
XRP has managed to post gains over the previous week, increasing by 4%, while behind other assets in the most recent market-wide surge. Over the weekend, the asset used the upswing to retake the $0.3950 milestone, although it was severely pummeled below the area.