XRP Whales Accumulate $526 Million in Token Holdings Over One Week

TLDR

• Whales accumulated 453.3 million XRP ($526 million) in one week
• Holders with 100k+ XRP reached all-time high of 51.59 billion XRP
• These large holders now control 85% of circulating supply
• XRP recently hit three-year high of $1.26
• Currently trading at $1.105 with $62.69 billion market cap

Large XRP holders have intensified their accumulation efforts, with new data showing unprecedented levels of concentration among major investors. This surge in whale activity comes as the digital asset maintains its position above the $1 price mark.

Recent on-chain data reveals that XRP whales acquired 453.3 million tokens in a single week, representing an investment of approximately $526 million at current prices. This massive accumulation occurred as the price reached a three-year high of $1.26.

Market analyst Armando Pantoja highlighted this trend in a recent market update, pointing to increased on-chain activity. The data shows that investors holding between 1 million and 10 million XRP have expanded their positions substantially, now controlling 18% of the total circulating supply.

$XRP whales quietly bought 453.3M tokens, $526M in a week—18% of the supply.

The most accumulation by whales in almost 3 years.

They know what most refuse to accept…something big is coming #XRP pic.twitter.com/bLrGMrd6fc

— Armando Pantoja (@_TallGuyTycoon) November 18, 2024

The accumulation pattern extends beyond mid-sized whales. Addresses holding more than 100,000 XRP have reached a new all-time high of 51.59 billion tokens. This group now controls 85% of XRP’s circulating supply, marking an 11-month high in concentration.

Price movements have accompanied this shift in token distribution. XRP recently touched $1.26, its highest point in three years, before experiencing a moderate pullback. The current trading price stands at $1.105, with a market capitalization of $62.69 billion.

The token has undergone a 14% correction from its November 16 peak, aligning with broader market movements. Despite this pullback, buyers have maintained support above the $1 price level, which serves as a psychological threshold for traders.

Several market analysts have shared price projections based on the recent whale activity. Bobby A, a market commentator, outlined potential price targets at $3, $8, $11, and $13, while Chartered Market Technician Tony Severino suggested a possible rise to $20, citing Elliott Wave analysis.

XRP Price on CoinGecko

The concentration of XRP in whale wallets represents a notable shift in the token’s distribution pattern. The movement of such large amounts of XRP to major holders has occurred during a period of increased market activity.

Data indicates that mid-sized whale wallets, those holding between 1 million and 10 million XRP, have been particularly active in recent weeks. Their accumulated positions have reached levels not seen in the past two months.

The timing of this accumulation coincides with XRP’s break above the $1 mark, a price point that has historically served as a key level for the digital asset. The surge past this threshold preceded the three-year high reached on November 16.

Trading volumes have remained steady throughout this period of whale accumulation. Market participants have maintained active trading despite the increased concentration of tokens among large holders.

The current market structure shows a consolidation phase following the recent price movement. XRP has established a trading range while maintaining price levels above $1, suggesting continued buyer interest at these prices.

Technical indicators point to ongoing market activity as prices stabilize. The token’s price action reflects a period of adjustment following the sharp move to multi-year highs.

Daily trading patterns show consistent volume across major exchanges, with active trading continuing despite the recent price correction. Market makers maintain liquidity at key price levels.

The most recent data shows XRP trading at $1.105, representing a 3% decrease over the past 24 hours. The total market value stands at $62.69 billion, reflecting current price levels and circulating supply.