XRP Whales Now Hold 68.5% of Supply in Highest Share Since 2022 — Is a Massive Rebound Quietly Brewing?

XRP may be struggling to regain its bullish momentum, but something intriguing is unfolding beneath the surface. While the Ripple-linked cryptocurrency languishes near $1.30, its largest holders have quietly tightened their grip on the token’s supply to levels not seen in nearly four years. 

With deep-pocketed players seemingly unfazed by XRP’s lackluster performance, could the cross-border payments token be laying the groundwork for a spectacular comeback?

XRP Whale Holdings Reach Highest Share of Supply Since November 2022

On-chain analytics platform Santiment has highlighted a notable shift in XRP’s supply distribution. 

According to its latest data, wallets holding at least 10 million XRP now account for approximately 46.87 billion tokens, equivalent to 68.5% of the circulating supply tracked by the firm. That is the highest concentration in whale hands since November 2022, suggesting that XRP’s biggest wallets are strengthening their position despite the token’s recent price weakness.

The rising concentration of XRP among major holders comes as the token continues to struggle on the price charts. 

XRP was trading at $0.32 at the time of writing, with a market capitalization of approximately $83 billion. The token remained 63.8% below its January 2025 all-time high of $3.65, highlighting the extent of its price decline. Notably, whale accumulation has continued throughout this downturn rather than emerging only after a recovery began, suggesting that major holders have been increasing their exposure despite persistent market weakness.

What does it mean for XRP?

For XRP, growing concentration among major holders could matter if it reflects sustained accumulation rather than routine exchange or custodial movements.

Santiment believes continued buying during a downturn may help support a recovery if selling pressure eases and fresh demand enters the market. However, the signal remains inconclusive, especially as XRP struggles to break decisively above $1.30. 

A sustained move toward $1.50, accompanied by further whale accumulation, would more strongly indicate returning bullish momentum. Until then, the latest on-chain data points to a potential recovery setup rather than confirmation of an impending parabolic rally.