In the past two months, XRP experienced a 20% price drop. Despite this, major investors actively accumulated the cryptocurrency.
XRP's Two-Month Price Decline
XRP's price fell by 20% over the past two months, reaching $2.44. This significant decrease also resulted in XRP losing its position as the third-largest cryptocurrency by market capitalization.
Whale Purchases: 46.4 Billion XRP Increase
Despite the price decline, large investors holding over a million XRP increased their holdings by 6.5%, equivalent to 46.4 billion coins or $113.2 billion. This indicates their confidence in XRP's long-term potential.
Market Reaction and XRP's Impact
Network activity in XRP has surged significantly; for instance, March saw a sixfold increase in unique wallet interactions. This could point to a positive outlook for the cryptocurrency's future.
Despite the recent price drop, the actions of major investors show confidence in XRP's long-term prospects, which may help stabilize the market.
