XRP whale share hits 68.5% of supply, highest since November 2022, Santiment says
In brief
- Wallets with 10M+ XRP hold about 46.87 billion tokens, per Santiment.
- Whale share stands at roughly 68.5% of supply, the highest since November 2022.
- XRP traded near $1.30 at the time of reporting.
- Futures volume hit $2.22 billion in 24 hours, nearly six times spot, per CoinGlass.
- Some large wallets may belong to exchanges or custodians, not single buyers.
What Santiment's data shows
The milestone comes from Santiment's tracking of wallets holding at least 10 million XRP, as reported by U.Today. Those addresses collectively control approximately 46.87 billion tokens (roughly 68.5% of supply under the firm's tracking methodology). It's the highest concentration among these holders since November 2022.
The timing is the interesting part.
XRP was trading near the $1.30 mark at the time of reporting, and it's struggled to establish a convincing recovery. U.Today characterized the gap between whale activity and price as a sign that large participants were increasing exposure while smaller investors stayed cautious.
Santiment's own read is that sustained accumulation during periods of weakness could eventually create favorable conditions for a price recovery, particularly if selling pressure from smaller holders subsides. That's Santiment's view (it isn't a forecast from LeoDex News).
Why concentration isn't the same as buying
There's a caveat worth keeping front and center. Some large XRP wallets may belong to exchanges or institutional custodians holding assets on behalf of multiple investors. So a rising share among big addresses doesn't necessarily translate into immediate buying pressure, and it doesn't tell you what any single holder intends to do.
Derivatives still dominate the tape
CoinGlass data cited by U.Today shows a market where futures do most of the work. XRP futures open interest stood at approximately $2.96 billion, according to CoinGlass. Over 24 hours, XRP futures trading volume reached $2.22 billion, compared with spot trading volume of approximately $387.42 million.
Futures activity was nearly six times greater than spot.
CoinGlass also recorded approximately $1.26 million in XRP futures liquidations over the same 24-hour period. Put the two data sets side by side and you've got whales holding their largest share in nearly four years, a price stuck near $1.30, and trading activity that's still mostly happening in derivatives rather than on spot markets.
Frequently asked questions
How much XRP do the largest holders control right now?
According to Santiment data reported by U.Today, wallets holding at least 10 million XRP collectively control approximately 46.87 billion tokens. That's roughly 68.5% of supply under Santiment's tracking methodology, the highest concentration among these holders since November 2022.
Does rising XRP whale concentration mean big investors are buying?
Not necessarily. Some large XRP wallets may belong to exchanges or institutional custodians holding assets on behalf of multiple investors. A growing share among large addresses doesn't necessarily translate into immediate buying pressure.
How active is XRP futures trading compared with spot?
CoinGlass data showed XRP futures open interest at approximately $2.96 billion. Over 24 hours, futures volume reached $2.22 billion versus spot volume of approximately $387.42 million, making futures activity nearly six times greater than spot. CoinGlass also recorded about $1.26 million in futures liquidations over the same period.
