XRP Rich List Update Shows 78 New Accounts Bought 77M XRP in 1 Day

Data from the latest XRP rich list update shows that whale accounts may be reshuffling their balances as new accounts go on an accumulation spree.

While the XRP price has struggled in recent times, on-chain data confirms that whales have been reshuffling amid an impressive accumulation trend. For context, with the latest market-wide crash that pushed Bitcoin (BTC) below $90,000 again, XRP now trades at the lower end of the $2 mark, down 7.18% in the last 24 hours.

As the uncertainty in the market grows, whale investors are reshuffling their balances. Specifically, “Mullen,” an XRP community pundit, recently presented the latest data surrounding the top 10,000 wallets holding XRP. According to his disclosure, these wallets now hold 51.39 billion XRP, representing 85% of the circulating XRP supply.

78 New Wallets Amassed 77M XRP in a Day

Notably, further data confirms that of this figure, about 77.324 million tokens entered 78 new wallets in a single day, as whales embarked on an accumulation spree. Mullen’s chart shows that one particular wallet amassed 35 million XRP tokens in a day.

One more account procured 3.63 million tokens, while six wallets accumulated 1.99 million XRP each. Interestingly, up to 44 new wallets amassed over 300 million XRP each, while 246 existing wallets increased their collective balance by 17.91 million XRP tokens.

Meanwhile, a few whale wallets also reduced their balances. For instance, one wallet moved out 2.819 million XRP on the same day, bringing its balance to 1.785 million XRP at the time of reporting. However, it bears mentioning that this account belongs to the exchange Bithumb. As a result, the outflow could be due to customer withdrawal or fund shuffling.

XRP Rich List Update | Mullen

Nonetheless, the more concerning pattern involved the noticeable depletion of funds across multiple accounts. In particular, as many as 78 wallets collectively moved out more than 108.5 million XRP. Most of these wallets transferred between 240 million and 241 million XRP each, effectively draining their balances.

Whales Accumulating Amid Shuffle Trend

With 78 new wallets accumulating and 78 existing wallets emptying their balances, this appears to be a reshuffling trend. Considering these developments, Mullen suggested that the XRP rich list is rotating, not shrinking. According to him, large whales have begun repositioning as they await the next move.

Meanwhile, on a larger timeframe, data confirms that these large investors may actually be accumulating more tokens over the past few months. Specifically, The Crypto Basic found late last month that addresses holding between 20 million and 100 million XRP, as well as those with 100 million to 500 million XRP, had amassed $7.81 billion in XRP since August.

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