Santiment reported that wallets holding at least 10 million tokens continued accumulating XRP as its price remained weak, with their share of the supply reaching its highest level since November 2022.
According to the on-chain analytics platform’s October 27 post, these large wallets hold a total of 46.87 billion XRP. This share, equivalent to approximately 69 percent of the supply according to Santiment’s calculations, indicates that large investors are increasing their positions even as prices weaken.
Price Weakens as Whale Balances Grow
At the time of the post, XRP was trading at around $1.29. Santiment interpreted large wallets accumulating under these conditions as a sign that confidence in the asset remains intact.
According to the analysis, large wallets increasing their balances while smaller investors continue selling could create a more favorable outlook for a rally. The key data point here is not a transaction by a single whale, but that the group of wallets holding at least 10 million XRP has reached a share of the supply not seen in years.
Which Levels Are Being Watched for an XRP Recovery?
Santiment identified $1.30 as the first threshold to watch for direction in the short term. Holding above $1.20 and whale balances remaining elevated are among the conditions that support the platform’s accumulation thesis.
For a stronger sign of recovery, a move back above $1.50 stands out. According to Santiment, if a return to this level is also accompanied by an increase in large-wallet balances, expectations for a broader recovery in XRP could strengthen.
Not investment advice.