Wallets holding at least 10 million $XRP (@XRP) now account for roughly 68.5% of supply, according to on-chain analytics firm Santiment. That equals 46.87 billion tokens, and the group's shar
Wallets holding at least 10 million $XRP (@XRP) now account for roughly 68.5% of supply, according to on-chain analytics firm Santiment. That equals 46.87 billion tokens, and the group's share is the highest since November 2022, even as XRP trades near $1.29.
Santiment said in a community insight that these large holders have kept increasing exposure while the token struggles near current levels. The firm argues that accumulation during weakness suggests conviction remains strong beneath the price action, a setup it describes as more bullish if smaller traders continue to capitulate.
The divergence is notable given XRP's recent performance. XRP is trading at $1.32, down 13.8% for the month and 28.9% since the start of the year, according to 24/7 Wall St. XRP last traded above $2 on January 19, 2026.
Santiment has pointed to several price levels. $1.30 is the immediate pivot, with $1.50 becoming the stronger confirmation level. Holding above $1.20 while whale balances remain near record territory would keep the accumulation thesis intact.
Analysts cautioned against reading too much into the figure. CCN noted that rising whale concentration supports an accumulation narrative, but custody transfers and wallet consolidation can also affect balances. Crypto Economy added that Santiment's data describes the distribution of tokens, not the buy and sell orders that will be executed in the market, and whale activity cannot establish when a recovery might occur.
Methodology also matters. The 68.5% figure is based on the supply tracked by Santiment. Finbold, using a circulating supply of 63.35 billion, calculated that these whales control roughly 73.99%, so the exact share depends on which supply measure is used.
Technical analysis offers a mixed picture. According to 24/7 Wall St., XRP trades below its 20-day average of $1.34 and its 50-day average of $1.40, with its 200-day average at $1.28 acting as the nearest support. Bitbase also reported that rising exchange balances and a decline in some whale wallet counts suggest mixed signals.
For now, large holders are adding while price remains range-bound, leaving traders watching whether the $1.30 pivot and the $1.50 confirmation level come into play.
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