According to on-chain analytics firm Santiment, the largest holders of
Santiment said that wallets holding at least 10 million XRP now control 45.83 billion tokens, valued at approximately $68.5 billion based on the price level referenced in the update. The company described the move as a whale-led push, noting that these wallets now hold 68.5% of the supply of XRP.
“XRP Teases a Market Cap of $1.50, and Whale Wallets Lead the Way,” says Santiment wrote on X. “Wallets holding at least 10 million XRP now hold a combined 45.83 billion
Why this is a crucial moment for the XRP price
The $1.50 area has attracted additional attention as it lines up with a key technical zone on the daily chart. Crypto analyst Cheds Trading described the move as an “XRP bouncing to the peak of the range daily,” next to a chart showing the price hitting the upper limit of a multi-month consolidation range.
This means that the current move is not just about growing the whale balance. XRP has recovered from a lower support zone and is now trading towards a region where previous rallies stalled. A decisive move through that area would change the structure in the short term; If nothing were to happen there, the range the asset has been in since the sharp sell-off earlier this year would be strengthened.
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Santiment’s broader portfolio data adds another layer to the whale accumulation story. In a separate update on May 13, the company said the XRP Ledger had reached an all-time high of 332,230 wallets holding at least 10,000 XRP. According to Santiment, this count has been in a consistent growth trend since June 2024.
“The continued rise in the number of XRP Ledger wallets holding at least 10,000 “Historically, rising numbers of mid-to-large portfolios indicate increasing conviction among investors who are less focused on short-term price movements and more interested in long-term positioning.”
Santiment also highlighted the context behind the trend. XRP has traded below its previous highs for much of 2026, meaning the rise of larger cohorts of holders has occurred during periods when momentum has not been uniformly supportive. The company described this as evidence of accumulation during weaker market conditions, rather than a simple response to upward volatility.
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There was one notable interruption. Santiment said the number of wallets holding at least 10,000 XRP fell by more than 4,500 between February 6 and 8. The company said there was no confirmed
Since then, the growth of more than 10,000 XRP wallets has exceeded pre-drop levels, Santiment said. That recovery is central to the bullish interpretation of the data: larger holders appear to have rebuilt and added to their positions after the liquidation-induced reset.
The immediate question on the market is whether the whale accumulation can coincide with a clear break above the peak around $1.50. Santiment’s data indicates increasing concentration among the largest wallets and continued growth among mid-to-large XRP holders.
At the time of writing, XRP was trading at $1,469.
Featured image created with DALL.E, chart from TradingView.com