Large XRP holders have substantially increased their positions even as the cryptocurrency’s value has declined, signaling a strategic accumulation phase among major stakeholders.
Whale accumulation intensifies as price drops
Santiment, a well-known blockchain analytics platform, reported that the number of XRP wallets containing at least 1 million tokens has reached 2,147, marking the highest level seen this year on the XRP Ledger network.
The surge in accumulation primarily occurred during a period of price correction, when XRP’s market price fell to $1.27. This influx suggests that new capital entered the market precisely as other investors may have been reducing exposure due to recent volatility.
Market activity among significant investors escalated at the end of October, with 28 new addresses surpassing the 1 million token mark over the past ten days. Notably, 18 of those high-balance wallets were created within just the last three days of the reporting window.
Unlike speculative players seeking rapid gains, large stakeholders often use price downturns as opportunities to build substantial positions. The increase in high-balance wallets during a market decline suggests a pattern of systematic accumulation rather than widespread liquidation.
In the face of declining prices, large XRP wallets continued to grow, with the number of million-token addresses reaching an annual peak during the recent correction.
Such a divergence between falling prices and increased holdings by major investors can indicate that a long-term market bottom is forming, although analysts caution that clear confirmation is still needed.
Analysts set key levels for reversal confirmation
Analysts have identified three crucial price thresholds that may determine whether XRP has established a sustainable bottom.
| Level | Significance | Condition for Bullish Scenario |
|---|---|---|
| $1.20 – $1.25 | Primary support/foundation | Millionaire wallets remain above 2,140 and price holds this zone |
| $1.30 | Local resistance/psychological mark | Price returns above, restoring broader optimism |
| $1.40 | Major confirmation | Stable consolidation above confirms bottom and signals readiness for new highs |
The $1.20 to $1.25 range is described as a foundational support. If XRP’s price holds within this band and the number of whale wallets remains above 2,140, momentum could favor a long-term upside.
A move above $1.30 represents a key resistance and psychological milestone. Shifting back to this range would signal growing optimism among broader market participants.
Finally, consolidating above $1.40, with continued whale accumulation, would act as confirmation for a new growth phase, indicating that the market bottom may be firmly established.
Analysts suggest that XRP’s bullish outlook will depend on large stakeholders maintaining these critical support levels as market dynamics evolve.
XRP Ledger, the decentralized blockchain facilitating XRP transactions, has become a point of focus as large investors appear to be strategically positioning themselves for a potential rebound.
Mini dictionary: Santiment is a blockchain analytics platform that offers on-chain and social metrics for various cryptocurrencies, providing insights into market trends, investor behavior, and network activity.
