Santiment: Thanks to whale wallets holding between 1 million and 100 million XRP, XRP has broken through its highest point in 3 years

ChainCatcher reports that Santiment has announced on the X platform that XRP has now broken through a 3-year high, reaching $1.2679 for the first time since November 11, 2021.

This rebound is due to major whale wallets holding between one million and one hundred million tokens. In just the past week, this group has accumulated a total of 453.3 million tokens (worth $526.3 million). Meanwhile, the tokens they have accumulated mainly come from retail traders who are trying to sell their tokens when XRP shows a slight increase.

Last week, wallets holding less than one million XRPs sold off a total of 75.7 million tokens (worth $87.9 million). Historically speaking, when cryptocurrency traders increase their holdings and confidence, its market value tends to grow positively while FUD in retail further drives this growth. This is exactly what's happening with XRP.