Investors’ Trust in XRP Continues to Rise as Shown in the Santiment Data

Investors show trust in Ripple’s native XRP as the firm’s legal fight with the US Securities and Exchange Commission continues.

Increasing Investor Trust in XRP

As reflected in the santiment chart, the investment in accounts holding huge sums of XRP tokens, known as the XRP Whales, has increased in the past few weeks. As per the data, there are 221 accounts that hold XRP tokens between the range of 10 million and 1 billion. In total, these Whales hold approximately 16.13 million XRP tokens which equals about $8.71 billion in dollar terms.

In recent weeks the XRP holdings of the whales with 100 million to 1 billion increased by 1.01 billion. With this recent influx, these Whales now hold 11.03 billion XRP tokens in total. Moreover, the XRP holdings of Whales with 10 million to 100 million tokens have also increased by 200 million to a total of 5.08 billion since August 13th.

XRP Price Analysis

Unfortunately, the positive trend seen in investors’ interest in XRP has not really reflected in coin price behavior. Currently trading at $0.52, XRP is down 16.3% over the week and 3.5% during the past 24 hours. Over the months, Ripple’s native has emerged as the 3rd worst-performing cryptocurrency as in the meantime the coin has dipped down by 32.2%. Notably, on August 17th, XRP hit a low of $0.43, the lowest level since May 17th.

Further, XRP’s price behavior following the summary judgment announcement on July 13th has shown that while in the short term, a coin’s trajectory may be influenced by factors other than the general market movement, in the long term it is what determines a coin’s value.

To conclude, considering that the bears continue to dominate the market, XRP is likely to remain below $1 in the near future.