The importance of institutions XRP images has grown steadily over the past 9 days, as whale investors increased their holdings by 1.09%.
Between March 22 and March 30, the amount of XRP whales’ account increased from 11.05 billion tokens, worth about $15.47 billion, to about 11.17 billion tokens, worth $14.86 billion at the time of publication. Saint metrics.
Meanwhile, the whale scale increased by more than 120 million tokens and reached its peak on Saturday, March 28, with a total of 11.21 billion tokens.
Institutional investors lead the accumulation of XRP
The main reason why XRP levels have risen in the past few days was due to new interest from investors. For example, the altcoin of the United States that defines the exchange traded funds (ETFs) registered net investors 2.66 million tokens last week, which equaled about $3.59 million, to currently hold the world’s 933.33 million units.
Meanwhile, XRP trading traded $15.8 million last week for a total market capitalization of $2.269 billion at press time, according to data from CoinShares. It is worth noting that the sales of XRP exceeded that of Bitcoin (BTC) and Solana (SOL), which saw a net surge last week.
How does it affect the price?
The sharp increase in XRP levels over the past nine days coincides with the 6.05% fall of the altcoin to trade at $1,347 at the time of reporting.
However, the price of the altcoin has shown some volatility in the last four days, due to the increase in demand for whales. In addition, the price of the symbol has made a slight decrease, in the last few days, combined with a strong difference of 4 hours. Relative Strength Index (RSI), which is an old trend indicator.
