The sudden gains recorded in the cryptoverse has brought a notable crypto asset to the limelight. Data from Coinmarketcap shows that Ripple (XRP) has seen a price rise of over 30% from $0.19 to $0.244 in the last 14 days.
XRP outpaced Tether to become the third most valuable crypto asset in dollar terms, at around $11 billion. Its trading volume was about 1.6 billion at the time this report was written.
There is no clear reason behind this surge, but Nairmetrics, through its data feed, observed few whales increasing their stakes in the digital coin astronomically, even as XRP reclaimed the number three spot from Tether.
Consequently, since July 18, the number of wallets holding 1 million to 10 million XRP has been steadily increasing. Roughly 30 new whales have joined the platform, representing