XRP Whales Tighten Grip on Supply
TREE NEWS reports: Wallets holding at least 10 million XRP now control 46.87 billion tokens, or roughly 68.5% of the total supply. This is the highest concentration for this cohort since November 2022. The milestone comes as XRP struggles to hold above $1.29, highlighting a growing divergence between price action and holder behavior.
Accumulation Despite Price Weakness
Santiment notes that large holders have continued to increase exposure even as XRP trades near multi-month lows. This persistent accumulation suggests that conviction among whales remains strong beneath the surface. If retail investors continue to capitulate, the resulting supply squeeze could set the stage for a more bullish structure.
On-chain metrics show that addresses with 10 million or more XRP have been net buyers over the past several weeks, absorbing tokens from smaller wallets. This pattern often precedes major trend reversals, though it can also reflect broader market consolidation.
Key Levels to Watch
Santiment identifies $1.30 as the near-term pivot point and $1.50 as a stronger confirmation level. As long as price holds above $1.20 and whale balances remain near record highs, the accumulation thesis stays intact. A reclaim of $1.50, coupled with further whale growth, would significantly bolster the case for a larger recovery in XRP.
- Support: $1.20 – critical for maintaining the accumulation logic.
- Pivot: $1.30 – short-term directional bias.
- Confirmation: $1.50 – a break above would signal a broader recovery.
Market Implications
The rising concentration of XRP among whales raises questions about market liquidity and decentralization. While large holders can provide stability during downturns, their dominance also means that a few entities can influence price direction. For now, the data points to a classic accumulation phase, with smart money positioning for a potential upside move while retail sentiment remains subdued.
Investors should monitor whale wallet activity and the $1.20-$1.50 range for clues about the next major move. If history repeats, periods of high whale concentration have often preceded significant rallies in XRP.
