XRP Whales Command Largest Supply Share Since Late 2022
Large holders of XRP, often referred to as “whales,” have consolidated their grip on the cryptocurrency’s supply, holding the largest portion of tokens since November 2022. Wallets containing at least 10 million XRP now collectively control 46.87 billion tokens, representing approximately 68.5% of the total XRP in circulation.
This significant accumulation by major investors occurs even as the price of XRP hovers near the $1.3 mark. Data from analytics firm Santiment indicates that these large holders are continuing to acquire tokens despite the current market weakness, suggesting a sustained belief in the asset’s potential.
The trend points to major investors maintaining their exposure to XRP, while smaller traders may be exhibiting signs of waning confidence. However, Santiment cautions that XRP needs to overcome key resistance levels before a more robust recovery can materialize. The $1.3 level remains a critical threshold, with a move above $1.5 potentially offering stronger confirmation of bullish momentum. Sustained holding above $1.2, coupled with ongoing whale accumulation, would further bolster this positive outlook.
An increase in whale holdings could significantly strengthen the case for a recovery in XRP’s price.
Exchange Outflows Show Mixed Signals
In parallel, XRP exchange outflows have been notable, with approximately 5.3 billion tokens exiting exchanges over a 30-day period. This figure, while substantial, remains below the 6 billion XRP recorded in October. Binance saw the largest outflow, with around 2.206 billion tokens leaving its platform. OKX followed with 501.51 million XRP, and Bybit recorded outflows of 479.94 million. Upbit experienced outflows of approximately 392.90 million XRP, with Bitget seeing 243.39 million tokens depart.
These outflows experienced a dip in the first half of August before accelerating later in the month. Higher levels persisted through September and October, marking a recovery from a quieter summer period. Such movements could indicate that XRP is being transferred into private wallets or other platforms, potentially reducing the supply readily available for sale on exchanges.
Technical Indicators and ETF Activity
Adding to the technical picture, the TD Sequential indicator has generated a buy signal on XRP’s three-day chart. Historically, the three most recent similar signals have preceded price rebounds of 31%, 24%, and 18%.
On the exchange-traded fund (ETF) front, however, US-listed spot XRP funds experienced outflows totaling $3.61 million at the start of the week. This marks a reversal after the funds concluded the previous week in positive territory.
Corporate Investment and Ripple’s Innovations
In corporate investment news, Evernorth Holdings is seeking to raise up to $80.7 million through an equity facility with Cantor Fitzgerald. The company intends to allocate a portion of these proceeds to acquire more XRP, alongside funding its operational needs and developing products within the XRP ecosystem.
This strategic move follows Evernorth’s recent Nasdaq listing under the ticker XRPN. The company currently holds approximately 473 million XRP in its treasury and aims to generate returns through institutional strategies. Evernorth has also established partnerships with Ripple, Kraken, Coinbase, and BitGo to support its initiatives.
Meanwhile, Ripple is enhancing its corporate treasury platform with AI-powered automation and round-the-clock payment services. Its new 24/7 Returns feature is designed to enable eligible businesses to earn returns on qualifying digital assets, including RLUSD, outside of traditional banking hours.
