The number of XRP wallets holding a minimum of 10,000 tokens has reached about 343,500, even as the XRP price experienced a sustained decline over recent weeks. Data published by analytics firm Santiment indicates the rise in wallets points to potential accumulation by larger holders despite weakening prices.
XRP wallet count climbs amid price volatility
Santiment identified a growth of 16,815 wallets with at least 10,000 XRP over the past nine months, representing a 5.15% increase. This growth occurred during a period when XRP’s price dropped approximately 30% within seven weeks. The analytics platform noted that such divergence could signal accumulation from larger holders who continue to build positions during downturns.
According to Santiment, tracking wallet balances above a set threshold does not clarify whether additional capital has entered the market, as one individual or institution can control multiple wallets or consolidate holdings. Moreover, transferring tokens among wallets can increase the qualifying count without affecting the overall balance in circulation.
For example, splitting 20,000 XRP from a single account into two separate wallets containing 10,000 XRP each would increase the overall tally by one without actual net purchases. Santiment acknowledged that address growth alone does not directly represent new investor activity or inflows.
At the current price of $1.05, a minimum holding of 10,000 XRP equals roughly $10,500. Therefore, the category encompasses a broad range of holders, not just institutional actors.
Santiment’s research identified $1 as a critical support level and stated that a recovery toward $1.10 or $1.15 would depend on continued wallet growth, stable Bitcoin performance, and stronger overall demand for XRP.
These projected levels would represent modest percentage gains from current prices, yet Santiment cautioned that breaking below $1 alongside a shrinking number of qualifying wallets would support a case for further price weakness. The firm did not provide specific timing for any potential rebound.
Futures data shows positive funding, lower open interest
Recent futures market data from Coinglass shows that XRP’s funding rate stood at 0.0095% per eight hours, equivalent to an annualized rate of approximately 10.4%. At the same time, open interest declined 6.73% over the previous 24 hours to $328.5 million, while the mark price hovered at $1.06.
The breakdown of trading positions showed that 74.4% of accounts were long, while 25.6% were short. However, Coinglass specifies that these percentages measure the number of accounts taking either side and do not represent the total value of positions.
A positive funding rate requires traders in long positions to pay a fee to those in short positions. While annualizing this rate offers a reference point, the actual payment changes as the funding rate itself adjusts and does not directly translate to realized investment returns.
XRP’s positive funding rate signals sustained bullish bets in the derivatives market, but falling open interest and muted price momentum suggest that conviction among long traders may be waning. Additionally, open interest calculated in US dollars can decrease due to price declines alone, even if the number of contracts remains steady.
Santiment’s latest update implied that market sentiment around XRP remains divided, with technical levels and on-chain trends providing conflicting signals for the asset’s short-term direction.
Santiment has outlined that XRP’s prospects rely on both steady support at $1 and renewed wallet growth, while futures market positioning highlights the costs faced by bullish traders as volatility persists.
As the number of large XRP wallets surges while prices remain volatile, traders and investors may benefit from real-time monitoring of support levels and wallet activity. CryptoAppsy’s customizable alerts allow users to track XRP’s price relative to key thresholds such as $1 and receive immediate notifications about significant address growth, helping market participants respond quickly to changing dynamics.
