Key takeaways XRP whale wallets decline from 351 to 339 Exchange balances rise by approximately 47 million XRP Losing $1.26 support could expose prices below $1 XRP is facing renewed selling
XRP is facing renewed selling concerns after the number of large-holder wallets declined and approximately $61 million worth of additional tokens appeared in exchange-associated balances.
The cryptocurrency traded near $1.29 on October 26, down roughly 17% over the past month, as investors assessed whether recent whale activity could trigger another decline.
According to analyst Ali Martinez, addresses holding between 10 million and 100 million XRP fell from 351 to 339 over several weeks. His October 25 analysis also identified $1.26 as a critical support level that could determine whether the correction deepens.
XRP Whale Wallets Shrink as Exchange Holdings RiseThe decline represents 12 fewer addresses in the 10 million–100 million XRP category, according to Santiment figures shared by Martinez.
At $1.30 per token, addresses in this category hold between $13 million and $130 million in XRP. However, leaving the category does not necessarily mean an investor sold their entire position.
A wallet might transfer assets to another address, split its holdings or move above the 100 million XRP threshold.
Meanwhile, exchange-associated balances in Martinez's dataset increased from approximately 11.003 billion to 11.05 billion XRP, a net rise of around 47 million tokens.
That represents approximately $61.1 million at the reference price.
The development adds to earlier exchange inflow concerns, when 6.05 billion XRP in gross deposits were recorded over a separate 30-day period.
However, gross deposits and net exchange balances are different metrics. Neither automatically proves that investors sold their XRP.
An independent exchange-wallet tracker also reports different totals and changes because it follows a different set of labeled addresses, reinforcing the importance of comparing consistent datasets.
Can XRP Hold $1.26 as Institutional Demand Slows?The latest whale figures arrive as XRP ETF investment shows signs of weakening.
U.S. spot XRP ETFs attracted approximately $4.3 million during the October 19–23 trading week, recovering from the previous week's modest withdrawals.
However, the funds recorded no net inflows on October 23, despite substantial cumulative investment since their launches.
Coinpaper recently reported that XRP ETF assets were worth approximately $1.48 billion against $1.81 billion in cumulative net inflows.
Meanwhile, XRP Ledger participation continues expanding. Santiment recently identified a record 8.24 million funded wallets.
That contrast highlights why more wallets do not necessarily translate into higher cryptocurrency prices.
For traders, the immediate question is whether XRP can hold above $1.26, the lower boundary of a price channel identified by Martinez.
XRP Price Prediction: Could Whales Push XRP Below $1?Martinez warned that sustained trading below $1.26 could expose $1.11, followed by a more significant decline toward $0.98.
The latter would represent approximately 22% downside from the $1.26 breakdown level, although the scenario depends on continued selling and a confirmed loss of support.
Conversely, defending $1.26 and reclaiming $1.40 could strengthen the case for a recovery toward $1.50.
Market sentiment may also be influenced by Ripple's October 27–29 Swell conference, where financial institutions will discuss payments, stablecoins and tokenization.
Coinpaper's recent Ripple partnership analysis highlighted why institutional agreements do not automatically generate equivalent XRP demand.
Traders are also monitoring Ripple's scheduled November escrow release, although unlocked tokens are not necessarily sold.
For now, whale distribution remains a warning signal rather than proof of an impending crash. Whether XRP stabilizes above $1.26 will matter more than the wallet-count decline alone.
