XRP whales accumulate $710M in tokens this month

Whale addresses holding between one million and 100 million XRP have accumulated an additional $710 million worth of the token this month, CryptoBasic reported, citing data from Santiment. The analysis suggests a "buy the dip" strategy emerged after XRP's price entered a downtrend following its peak of $2.41 on Jan. 6. Specifically, wallets holding between 10 million and 100 million XRP added 220 million XRP, while those with one million to 10 million XRP purchased another 160 million XRP. Additionally, addresses holding between 1,000 and 100,000 XRP bought an additional $112 million worth of the token. CryptoBasic noted that this buying pressure amid a price decline suggests investor confidence in XRP remains strong and could provide support against further downside risk.