Major XRP Holders Reach Highest Accumulation Since November 2022

The largest XRP holders have reached a significant accumulation milestone: their share of the supply has risen to its highest level in nearly four years. According to Santiment, wallets holding at least 10 million XRP now control approximately 46.87 billion tokens—about 68.5% of the supply by the company's methodology and the highest since November 2022.

This figure is particularly notable against the backdrop of weak price dynamics: despite accumulation by major participants, the cryptocurrency associated with Ripple cannot secure a convincing recovery and is trading around $1.30. The gap between whale activity and price suggests that some of the largest market participants are increasing their positions, while smaller investors remain cautious.

Santiment believes that sustained accumulation during periods of weakness may eventually create favorable conditions for price recovery, especially if selling pressure from smaller holders begins to wane. However, the increase in XRP concentration among large addresses does not necessarily indicate immediate buying pressure: some of these wallets may belong to exchanges or custodians holding assets on behalf of multiple investors.

Derivatives remain active

Data from CoinGlass shows that speculative activity around XRP remains significant at a relatively restrained price. The open interest in XRP futures is about $2.96 billion—the aggregate value of outstanding contracts. Over the past 24 hours, futures trading volume reached $2.22 billion compared to approximately $387.42 million on the spot market: futures activity was almost six times higher than spot, highlighting the role of leveraged traders. During the same period, CoinGlass recorded XRP futures liquidations of approximately $1.26 million.