XRP, the native token of the XRP Ledger blockchain network, has notable market divergence metrics pointing to a strong bullish case, according to an analysis by Santiment.

Some of these metrics are pointed out by ‘Sanr_King,’ a pseudonymous on-chain analyst on the market analytics platform. The analysis includes whale addresses continuing to accumulate XRP rapidly and traders continuing to short. It adds that a significant long/short ratio is also on the verge of being crossed.

Sanr explains that over the past six months, the group of XRP holders who own between 1 million and 10 million tokens has been accumulating. This cohort has increased their holding by 25%, bringing their total to 4.09 billion XRP. The trend is significant as it is often seen at market bottoms. The analyst adds that the whales also strongly influence the price of XRP.