XRP Experiencing a Serious Rally: Analytics Firm Reveals Insights, Including Reasons for the Rally

Analysts from cryptocurrency analysis company Santiment made a new post about Ripple (XRP), one of the most well-known altcoins.

According to analysts, the XRP price reached $0.58 for the first time since the market-wide major decline on April 12. In the last 24 hours, Ripple has increased by approximately 8% and has a positive divergence from the market.

According to analysts, the serious rally in question was supported by cryptocurrency whales and sharks who own over 100 thousand XRP. A visible turning point in these wallets’ accumulation of XRP supply was detected in August last year.

According to Santiment data, wallets holding over 100 thousand XRP currently own approximately 85% of the total token supply, which is the highest value in the last 11 months. On the other hand, these big whale wallets hold a total of 51.59 billion XRP, which is actually the highest record of all time.

However, Santiment analysts also warned about the high FOMO value detected for XRP. According to analysts, although the token price may continue to rise with FOMO, it seems high risk in the current situation.

*This is not investment advice.

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