In Brief:
- XRP whale wallets collectively hold 46.87 billion tokens, representing 68.5% of tracked supply, the highest concentration since November 2022.
- Santiment reports growing whale concentration despite XRP trading near $1.30, while smaller investors face persistent selling pressure across markets.
- XRP futures open interest reached $2.96 billion, with trading volume of $2.22 billion significantly exceeding spot market activity levels.
XRP’s largest holders have strengthened their control over the cryptocurrency’s supply, reaching a concentration level unseen in nearly four years. According to blockchain analytics firm Santiment, wallets holding at least 10 million XRP collectively possess approximately 46.87 billion tokens.
These holdings represent 68.5% of Santiment’s tracked supply, the highest concentration since November 2022, despite XRP struggling near $1.30. Meanwhile, the growing concentration highlights a widening gap between large wallet balances and XRP’s market performance during the recent downturn.
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XRP Whale Holdings Reach Four-Year High Despite Price Weakness
According to Santiment’s latest findings, addresses containing at least 10 million XRP have reached their highest collective supply share since November 2022. The 46.87 billion XRP concentration represents a significant milestone, particularly as the cryptocurrency struggles to establish stronger upward momentum.
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Santiment indicated that sustained accumulation during market weakness could support price recovery if selling pressure from smaller investors decreases. Additionally, the growing concentration suggests that major stakeholders maintain considerable exposure despite XRP’s disappointing performance across recent trading sessions. Nevertheless, some large addresses belong to exchanges or institutional custodians managing customer assets rather than individual cryptocurrency investors.
XRP Futures Trading Volume Exceeds Spot Activity
Meanwhile, XRP’s derivatives market recorded substantial trading activity, reflecting significant speculative participation despite the cryptocurrency’s relatively subdued price performance. According to CoinGlass data, XRP futures open interest reached approximately $2.96 billion, representing outstanding derivatives contracts across trading platforms.
Additionally, futures trading volume totaled $2.22 billion within 24 hours, substantially exceeding spot trading activity of approximately $387.42 million. This placed futures volume at nearly six times spot trading activity, highlighting the considerable involvement of leveraged market participants.
During the same period, CoinGlass recorded approximately $1.26 million in XRP futures liquidations as traders adjusted their positions. Overall, Santiment’s findings highlight growing XRP supply concentration among major addresses, while derivatives activity remains elevated despite persistent price weakness.
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