XRP’s biggest holders have pushed their combined balances to the highest level in nearly eight years, according to on-chain analytics firm Santiment, as the token tests the upper end of a recent trading range near $1.50.
Santiment said that wallets holding at least 10 million XRPs now control 45.83 billion tokens, valued at roughly $68.5 billion based on the price level stated in the update. The company described the move as a whale-led push, noting that these wallets now hold 68.5% of the XRP supply.
“XRP Teases $1.50 Market Cap, Whale Wallets Lead”, Santiment wrote on X. “Wallets with at least 10 million XRP now hold a combined 45.83 billion XRP tokens ($68.5 billion), the most they’ve held since May 2018. That translates to 68.5% of the coin’s supply.”
Why this is a pivotal moment for the price of XRP
The $1.50 area has attracted additional attention as it coincides with a key technical zone on the daily chart. Cheds Trading crypto analyst described the move as “XRP’s bounce to the top of the daily range,” with the chart showing price pressure at the top of a multi-month consolidation range.
This means that the current move is not only about increasing the balance of whales. XRP has recovered from the lower support zone and is now trading in the region where previous gains stalled. A decisive move through that area would change the short-term structure; a failure there would strengthen a range that has contained the asset since a sharp selloff earlier in the year.
Related reading
Santimento’s broader wallet data adds another layer to the whale hoarding story. In a separate update on May 13, the company said the XRP Ledger reached an all-time high of 332,230 wallets holding at least 10,000 XRP. According to Santimento, that number has been on a steady upward trend since June 2024.
“The continued increase in XRP Ledger wallets holding at least 10,000 XRP is an important long-term signal as it shows that larger holders have been accumulating even during periods of volatility and uncertainty,” Santiment wrote. “Historically, the increasing number of mid- to large-cap wallets suggests a growing conviction among investors who are less focused on short-term price movements and more interested in long-term positioning.”
Santiment also highlighted the context behind the trend. XRP has spent most of 2026 trading below previous highs, meaning the rise of larger groups of owners has occurred during periods when momentum has been uneven. The company described this as evidence of accumulation during weaker market conditions rather than a simple reaction to rising volatility.
Related reading
There was one significant interruption. Santiment said the number of wallets holding at least 10,000 XRP dropped by more than 4,500 between February 6th and February 8th. The company said there was no confirmed XRP-specific event directly linked to that drop, but added that the timing “strongly suggests” it was linked to the broader crypto crash and liquidations on February 5.
Since then, the rise of more than 10,000 XRP wallets has surpassed the level before the crash, according to Santimento. That recovery is central to the bullish interpretation of the data: larger holders appear to have rebuilt and expanded their positions following the liquidation-driven reset.
The immediate market question is whether the whale rally can be matched by a clean break above the top of the range near $1.50. Santimento’s data points to growing concentration among the largest wallets and continued growth of medium to large XRP holders.
At press time, XRP was trading at $1,469.
Featured image created with DALL.E, chart from TradingView.com
