Despite the volatility of the market, on-chain data shows that wealthy XRP investors have continued to accumulate large amounts of XRP since late February. These investors have been persistently amassing more XRP tokens, with large whale investors accumulating 1.1 billion XRP tokens since late February, worth around $570 million.

This accumulation trend has persisted amid the recent increasing interest in Bitcoin and other crypto assets among institutional investors. Meanwhile, XRP has remained stagnant since plummeting below $0.50 on June 23, currently trading at $0.4682.