XRP Whales Resume Buying?...Records Largest Holdings in 8 Years

▲ XRP

The amount of XRP held in large wallets has swelled to its highest level in 8 years, drawing market attention back to XRP accumulation trends.

According to TheCryptoBasic on May 15 (local time), on-chain analytics platform Santiment reported that the total holdings of XRP Ledger wallets with over 10 million XRP reached 45.83 billion XRP. This marks the largest whale holding since May 2018.

According to Santiment data, wallets holding more than 10 million XRP currently possess approximately $68.5 billion worth of XRP. The holdings of these wallets account for over 74% of the circulating supply of XRP. TheCryptoBasic stated that the dominance of large holders is expanding across the entire XRP ecosystem.

Santiment analyzed that the whale accumulation trend is one of the key factors supporting XRP's recent price momentum. The data explained that whale holdings have steadily increased since 2021, and large wallets continued to increase their XRP holdings even during bearish periods across the cryptocurrency market.

The accumulation trend was not limited to ultra-large whale wallets. According to recent Santiment data, the number of wallets holding more than 10,000 XRP reached an all-time high of 332,230 this week. Subsequently, this number increased to 332,253 addresses. Among these, individual investor addresses holding between 10,000 XRP and 100,000 XRP accounted for approximately 300,260, leading the increase.

TheCryptoBasic noted that large holder accumulation is attracting attention in the cryptocurrency market as a variable influencing liquidity, volatility, and overall market direction. As XRP whale holdings and the number of addresses holding over 10,000 XRP simultaneously expanded, a trend of strengthening long-term holding sentiment was observed in the XRP market.

*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.*