Despite XRP’s price sliding 20% in the past two months, deep-pocketed investors are betting big on the cryptocurrency’s future. Blockchain data reveals these “whales” have quietly accumulated over 6% more tokens since February – what do they know that others don’t?

According to data from Santiment, cryptocurrency wallets holding at least one million XRP have increased their holdings by 6.5% to a massive 46.4 billion XRP (valued at approximately $114 billion) in just two months. This accumulation comes alongside a dramatic surge in network activity, with six times more unique wallets interacting on the XRP network in March compared to previous months.

This aggressive buying by large investors stands in stark contrast to XRP’s price performance, which has dropped from around $3.06 to $2.45 during the same period. The disconnect between whale behavior and market price raises intriguing questions about what these major players might be anticipating.

Brad Garlinghouse, CEO of Ripple, which uses XRP to facilitate cross-border transactions, added fuel to speculative fires on Wednesday when he stated that the U.S. strategic digital asset reserve is likely to include XRP.

The ongoing accumulation by wealthy investors suggests growing confidence in XRP’s long-term potential, despite recent price weakness. Whether this persistent buying will eventually translate into upward price movement remains to be seen, but the whale activity certainly offers a compelling counternarrative to the recent bearish price action.

For smaller investors wondering whether to follow the whales’ lead or remain cautious, the coming months could prove decisive for XRP’s trajectory.