Large holders of XRP have acquired a combined 70 million tokens over a recent five-day stretch, according to on-chain metrics shared by crypto analyst Ali Martinez. Data provided by blockchain analytics platform Santiment tracks the movement of XRP by measuring the balances held in wallets identified as controlled by whales, a term widely used for entities holding substantial amounts of cryptocurrency.
Whale accumulation gathers pace
Santiment’s data reveals that on July 11, whale wallets controlled about 3.77 billion XRP. The next few days saw a notable upward trend, as these wallets steadily increased their holdings. By July 14, the collective balance had reached 3.83 billion XRP, maintaining that level through July 15. This jump of 70 million tokens into whale-controlled wallets points to a phase of concentrated buying activity over a relatively brief period.
The swift increase is unusual compared to previous trading patterns, where holdings by these large accounts remained stable. The period between July 12 and July 14 recorded the most significant buying, accounting for the majority of the gains during these five days. Despite a slight dip on July 15, whale holdings remained within close range of the recent peak.
Institutional interest suspected
Such accumulation at scale is rarely associated with typical retail investors, who generally lack the capacity for transactions of this size. Instead, analysts point to likely participation by institutional players or high-net-worth individuals actively building positions. Wallet-level data from Santiment indicates the tokens were not simply transferred between existing wallets but acquired as part of direct purchasing in the open market.
This behavior reflects a broader institutional trend, as some investors seek to gain significant exposure to XRP at current price levels.
Mini dictionary: Santiment, a blockchain analytics company that provides on-chain and social media data for cryptocurrencies, enabling investors to monitor large wallet activity, market trends, and other real-time blockchain movements.
Analyst reaction highlights new trend
The accumulation by whales has drawn attention from the analyst community. CryptoSensei, an established market observer, noted the connection between rising whale wallet balances and a parallel drop in exchange-based XRP supply. The ongoing reduction in the number of XRP tokens held on trading platforms indicates that fewer assets are readily available for sale. Meanwhile, whale wallets are absorbing large portions of the remaining supply.
The combination of increased whale accumulation and falling XRP balances on exchanges marks a shift that analysts believe may affect liquidity and potentially alter market dynamics.
At present, XRP’s supply on major exchanges stands at a multi-year low in 2026. This decreasing availability intensifies the impact of new purchases, as each buy order represents a higher proportion of the remaining liquid supply.
| Date | XRP Whale Holdings (Billion) | XRP on Exchanges (Trend) |
|---|---|---|
| July 11, 2026 | 3.77 | Falling |
| July 12, 2026 | 3.78 | Falling |
| July 14, 2026 | 3.83 | Falling |
| July 15, 2026 | 3.82 | Falling |
Supply dynamics and price landscape
A combination of intensive buying by large investors and shrinking exchange reserves creates tighter conditions on the sell side of the market. In such scenarios, any increase in demand can have outsized effects, as the pool of immediately available tokens continues to shrink. However, analysts emphasize that constrained supply on its own does not ensure a price increase, but it does set the stage for potential market movement.
XRP is currently trading near $1.09, still significantly below its July 2025 high of $3.65. Recent whale activity suggests that these participants view present valuations as favorable for accumulation rather than distribution.
Whale accumulation and declining exchange balances are two factors that traders and market observers are monitoring closely as possible precursors to changes in market momentum.
