Santiment Feed’s analysis shows the number of whale and shark wallets on the XRP Ledger in the last two months has dropped, while their collective holdings climb to a 7-year high record.
Large accounts with more than 100 million XRP fell by 20.6% over the past eight weeks, with the group having lost 569 wallets since late September, deemed by Santiment as one of the fastest contractions ever recorded for this tier.
Despite the retreat in wallet count, these high XRP-value accounts now hold a combined 48 billion XRP, a level last seen towards the end of the 2018 fiscal year. The pattern drawn shows that the fourth-largest coin by market cap has a consolidation of supply from both whales and short-term holders, although the former appears to be buying the proceeds of a bear market.
XRP whales numbers go low, token accumulation in reverse trend
According to Santiment data, when XRP traded near $2.85 three months ago, the number of 100 million-plus wallets was over 2,000, but their total holdings within this tier was around 47.7 billion coins.
During XRP’s all-time high period in July, when the token clocked $3.65 during a mid-2025 market bull, large wallets were more than 2,700, but their holdings were dispersed and did not exhibit the same heavy concentration seen today.
Within the month of November, addresses holding between 1 million and 10 million XRP sold more than 2.20 billion XRP. The tokens offloaded in this period were valued at more than $4.11 billion based on market prices during the sell-off.
That said, the accumulation activity on the XRP ecosystem also surged following the debut of spot XRP ETFs in the United States. November 13’s Canary Capital spot ETF launch kickstarted a flurry of more funds trading in the West, which now includes Franklin Templeton, Bitwise, and Grayscale.
The ETFs have already accumulated $756 million in net inflows and reached $723 million in total assets. Although ETFs may not outline how many whales contributed to the net inflows, the numbers can explain part of the redistribution among high-value wallet tiers as institutions continue widening their exposure.
XRP ledger processes 40,000 transactions, while reserves on Binance fall
In the final week of November, the XRP ledger (XRPL) processed more than 40,000 configuration transactions, which, according to blockchain analyst Vet, came from AccountSet and Automated Market Maker Bid transactions.
AccountSet transactions modify permissions, multi-signature rules, or AMM preferences in operations where institutions prepare custodial accounts, adjust security protocols, or add liquidity for new financial products. The surge suggests institutions are reconfiguring infrastructure ahead of increased product flow for the ETFs.
Moreover, XRP reserves have been declining for nearly two months on the world’s largest volume exchange, Binance. Since October 6, approximately 300 million XRP have left the platform.
XRPL Binance exchange reserve. Source: CryptoQuant.According to CryptoQuant’s XRP Binance Reserves chart, the exchange now holds just above 2.7 billion XRP, the lowest level ever recorded since July 2024.
Price pullback takes the token 9% down in the week
While supply concentration tightens, XRP has been facing strong rejection in the past 30 days from the $2.50 resistance zone. The token has since rolled over again and is trading near $2.00, almost 10% below its weekly highs and 1.6% down in the last 24 hours.
Any retracement higher is expected to meet resistance between 2.2752 and 2.5808, a zone where sellers have been re-entering the market. According to several XRP enthusiasts, including commentator Egrag Crypto, only a decisive move above 2.5808 on strong volumes would invalidate the current bearish structure.
“A Bullish Pennant is forming, and XRP is now trading above the 50 EMA. In 2021, the 50 EMA was brutal resistance. Today, it’s strong support. If BTC dominance peaks, XRP will surge,” the analyst surmised.
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Source: https://www.cryptopolitan.com/xrp-ledger-whale-shark-wallets-shrink/
