Ripple (XRP) whales, renowned for their confidence amidst chaotic market conditions, recently moved 143 million tokens worth $55.96 million, as reported by Whale Alert.

This is just another example of their unwavering commitment to the network.

Prior to this remarkable transaction, the whale tracking profile had mentioned multiple notable XRP transfers. In December 2022, over 100 million XRP had moved between wallets.

Unfortunately, Ripple’s network growth was unable to revive itself, with Santiment reporting that it had been declining since 4 December and had plummeted to 611 at the time of writing.

An analysis of the Ripple chain revealed that the number of new addresses interacting with the network was small.

This indicated that it was mostly large investors (whales) doing the trading and accumulation, while retail investors remained spectators.

Furthermore, XRP’s supply outside of exchanges was “flatlined” at 99.97 billion, meaning token holders were not following community guidelines to protect themselves through decentralized exchanges or self-custody.

On-chain data also showed that its one-day circulation had weakened to an extremely low level of 104.42 million, demonstrating that there were few unique transactions taking place.