Investors are buying Ripple in droves
Whales are major investors in digital currencies and they buy Ripple en masse.
Ripple (XRP) has been around for years and is a popular currency. As with many digital currencies, the price has proved volatile. The purpose of the currency is to change the payment system. It is a blockchain company and cooperates with banks and other financial institutions. This is to convert the traditional trusted payment traffic to the blockchain via the XRP network. They want to maintain the trust of payments between banks, but remove the bureaucratic hassle that surrounds it. Over the past few months, whales have been buying many of these coins.
Major Investors Buy Ripple
In the past three months, investors have bought nearly $1 billion worth of XRP tokens. And that is significant. This is what the analysis company Santiment found out. They have followed the doings of XRP whales and have come to this conclusion. The company notes that the whales have bought nearly $1 billion worth of Ripple coins in just three months. The report also shows that the balances of these whale addresses have increased by a whopping 76% in the past two months.
During this period, the investors have bought a huge amount of tokens. Namely 897 million and the value of the coins is estimated at $712 million. The purchases are the second largest ever in the history of this coin.
Rode
It is unclear why this interest is suddenly there. However, analysts and investors are closely following these whales. This is because they have an enormous influence on the prices, but also on the growth of some currencies. Recently, of course, there has been a significant dip in all cryptos. Investors then buy the dip and XRP is apparently popular.
