XRP Whales Accumulate 1.26 Billion Tokens Amid 30% Price Drop

Despite the ongoing market downturn, large XRP holders, often referred to as whales, are showing signs of renewed confidence. The number of addresses holding 1 million XRP or more has slightly increased, even as the token's price continues to struggle with recent declines.

XRP experienced a significant rally on March 2, surging 34% in a single day following the announcement of a crypto reserve strategy. However, this momentum was short-lived. On March 3, the token dropped nearly 19%, marking the beginning of a prolonged period of price decline. Since then, XRP has lost approximately 30% of its value and has struggled to maintain a stronghold above the $2 mark.

Despite the bearish price action, the number of addresses holding at least 1 million XRP has grown from 2,633 on March 2 to 2,635 currently, indicating a net gain of two new whale wallets. These wallets are considered key indicators of market sentiment, and their continued presence suggests optimism about a long-term recovery.

Santiment’s data provides a detailed look into these top-tier XRP holders. Addresses holding between 1 million and 10 million XRP form the majority, with 2,133 currently active, down slightly from 2,136 earlier. The group holding between 10 million and 100 million XRP grew from 301 to 307 addresses, showing increased activity among mid-tier whales. The count of addresses holding between 100 million and 1 billion XRP dropped from 37 to 35, indicating some consolidation. The ultra-high tier, holding more than 1 billion XRP, rose by one, reaching 159 addresses.

Though some tiers saw minor reductions, the overall whale population remained strong, reflecting continued trust in XRP’s long-term prospects. These whales have not only held steady but have actively increased their holdings. On March 2, they collectively held about 45.44 billion XRP. As of the latest data, this figure has grown to 46.7 billion XRP—a net accumulation of 1.26 billion tokens during the recent market slump. This growing stash further strengthens the case that large investors are preparing for a potential rebound, viewing the current price dip as a buying opportunity rather than a cause for panic.

Looking at the broader trend, whale activity has consistently grown in 2024. On January 1, addresses holding 1 million XRP or more totaled 2,482. With the current number at 2,635, that’s an increase of 135 whale wallets year-to-date. Between January 25 and March 25 alone, there was a rise of 36 such addresses.

While XRP’s price continues to face headwinds, the subtle rise in whale addresses and accumulation volumes highlights a quiet but firm belief in the token’s potential. Though the net growth in addresses may seem modest, it sends a clear signal: major XRP holders are not backing down.