XRP’s largest holders have achieved a new accumulation milestone, with their combined ownership rising to the highest point in nearly four years, according to data from blockchain analytics provider Santiment.
Major wallets intensify accumulation
Santiment reported that wallets containing at least 10 million XRP now collectively control around 46.87 billion tokens. This figure represents approximately 68.5% of the total supply under Santiment’s metrics, marking the highest share among these major addresses since November 2022.
The increased accumulation among large holders comes amid relatively weak price performance for XRP. Despite ongoing acquisitions from these influential wallets, the Ripple-associated cryptocurrency has struggled to stage a decisive recovery and continues to trade near $1.30.
The contrasting trends between whale accumulation and XRP’s stagnant price suggest that some of the market’s largest entities are increasing their positions while smaller holders remain hesitant.
Despite the subdued price action, large XRP holders have reached a new peak in accumulation, controlling nearly 69% of the circulating supply.
Santiment observed that persistent buying during market weakness may eventually set the stage for a price rebound, particularly if sales by smaller investors begin to diminish.
Still, analysts caution that the growing concentration of tokens among top wallets does not necessarily mean upward price pressure is imminent. Some of these addresses are likely controlled by exchanges or institutional custodians responsible for managing assets on behalf of numerous clients.
Mini dictionary: Santiment is a blockchain analytics platform providing on-chain data, social metrics, and behavioral analytics for cryptocurrencies, widely used by traders and institutional investors to track asset flows.
Futures market activity outpaces spot trading
Recent derivatives data from CoinGlass, a provider specializing in crypto futures analytics, shows strong speculative interest in XRP despite its lackluster spot price movement.
Open interest in XRP futures contracts has reached about $2.96 billion, reflecting the total value of all outstanding positions in the derivatives market.
During the last 24 hours, XRP futures trading volume was reported at $2.22 billion. This figure significantly surpasses the spot trading volume for the same period, which stood at $387.42 million.
The data indicates that futures market activity was nearly six times greater than spot trading volume, underlining the dominant role of traders utilizing leverage to speculate on XRP price movements.
| Market Type | Trading Volume (24h) |
|---|---|
| Futures | $2.22 billion |
| Spot | $387.42 million |
During the same period, CoinGlass recorded approximately $1.26 million in liquidations on XRP futures positions, highlighting ongoing volatility in the derivatives market.
Mini dictionary: CoinGlass is a data analytics service focused on cryptocurrency derivatives markets, providing statistics for open interest, funding rates, and liquidations across major exchanges.
