XRP Whale Holdings Surge to 48B Tokens, Reaching Seven-Year High

TLDR

• XRP whale wallets holding over 48B tokens have reached their highest level since 2018.
• The number of XRP wallets with at least 100 million tokens has dropped by 20.6% in recent weeks.
• Despite fewer whale addresses, the total XRP held by these wallets continues to grow.
• XRP whales may be consolidating their holdings, signaling a potential shift in market behavior.
• Technical indicators suggest a possible rebound for XRP, with analysts spotting a buy signal.

XRP whale wallets have increased their holdings despite recent price drops and the decline in wallet addresses. The number of wallets holding at least 100 million XRP tokens has decreased. However, these wallets now hold the largest combined amount of XRP since 2018.

Whale Addresses Decline, but Holdings Grow

Recent data from Santiment revealed that XRP whale addresses have fallen by 20.6%. The number of wallets holding 100 million XRP or more shrank by 569 over the past eight weeks. As of late November, the figure stood at 2,189 wallets, down from 2,757 in September.

While the number of addresses has declined, the total XRP held by these whales has grown. Santiment reports that these wallets now hold 48 billion XRP tokens. This is the largest combined balance held by 100M+ XRP wallets in seven years. The data suggests that whales are either consolidating their holdings or selling to reduce their address count. However, if they were selling, the total amount of XRP held would have decreased, which it did not.

XRP Whale Holdings Signal Potential Price Rebound

The increase in whale holdings raises speculation about XRP’s future price movements. Despite the price underperformance in recent months, these large holders seem confident in the asset’s potential. The concentration of XRP holdings in fewer addresses signals that whales may be preparing for a larger move.

Along with the rise in whale holdings, some analysts have spotted technical signals suggesting a rebound. Ali Martinez identified a buy signal using the TD Sequential indicator, showing that XRP could be nearing a bottom. The buy signal, based on weekly chart data, suggests that XRP might see a price rebound soon. Martinez’s analysis highlights the strength of this technical indicator.

XRP continues to see demand from large holders, even as the market remains subdued. The increase in whale holdings reinforces the belief that XRP’s future could be promising.

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