XRP, Largest Whale Accumulation Since 2018 Spotted...Is the Breakout of $1.50 Really Beginning?

▲ XRP/AI generated image

As large XRP holders are accumulating the largest amount of XRP since 2018, expectations for a breakthrough above $1.50 are spreading throughout the market.

According to NewsBTC on May 15 (local time), on-chain analytics firm Santiment revealed that wallets holding at least 10 million XRP currently hold a total of 45.83 billion XRP. This is worth approximately $68.5 billion, the highest level since May 2018. Santiment analyzed that these wallets control 68.5% of the total XRP supply.

Santiment stated via X (formerly Twitter), “XRP is testing the $1.50 market cap zone, and whale wallets are leading the upward trend.” This movement is attracting market attention not merely as a price rebound, but as a strengthening long-term accumulation trend by large investors.

Technical levels have also emerged as a key turning point. Crypto analyst Cheds Trading analyzed that XRP is retesting the upper bound of a prolonged consolidation range. The current $1.50 level is the upper resistance line of a multi-month sideways trend. It is assessed that if this level is clearly broken, the short-term market structure itself could change. Conversely, if it fails to break through, XRP could fall back into its existing range.

The increase in medium-to-large investors is also clear. Santiment stated that the number of wallets holding at least 10,000 XRP on the XRP Ledger has reached an all-time high of 332,230. This metric has shown a steady increase since June 2024. Santiment explained, “The fact that medium-to-large holders have continued to increase their holdings even during periods of volatility and uncertainty is an important long-term signal.”

However, there was a temporary wobble. Santiment reported that the number of wallets holding at least 10,000 XRP decreased by more than 4,500 from February 6 to February 8. Although no specific negative news related to XRP was confirmed, it was analyzed that the widespread cryptocurrency market crash and large-scale liquidation shock at the time had an impact. Subsequently, the number of medium-to-large wallets recovered and surpassed previous levels. Santiment evaluated that the fact that large investors increased their holdings again during the bearish period is a key factor in interpreting this data as a bullish signal.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*