The number of wallets holding over 1 million XRP has surged to an all-time high, signaling strong investor confidence in the digital asset. According to new Santiment data, the milestone coincides with a sharp 26% price increase for XRP over the past week.
Market analysts say this trend highlights growing faith in XRP’s long-term outlook, especially as the broader altcoin market gains momentum.
Whale Holdings Reach 47.3 Billion XRP
Santiment reports that 2,743 wallets now each hold over 1 million XRP, a historic high. Combined, these large holders control more than 47.32 billion XRP, a significant portion of the total circulating supply.
“We’re not just seeing more XRP whales than ever before,” Santiment notes, “but their collective holdings are also expanding.”
This consolidation of XRP among large wallets suggests strategic accumulation, particularly after months of price stagnation between $1.90 and $2.90. As of now, XRP is trading around $2.82—up 24% in just five days.
Altseason Boosts XRP While Shorts Take Heavy Losses
The rise in whale activity aligns with what many are calling the official start of altseason. Bitcoin recently reached a new all-time high of $118,780, while Ethereum followed with a 17% weekly gain.
Santiment suggests that as long as Bitcoin stays above the psychological $110,000 mark, traders may continue rotating profits into altcoins like XRP.
Meanwhile, XRP short-sellers faced painful losses. According to CoinGlass, over $31.44 million in short positions were liquidated in just 24 hours. These forced buybacks further amplified XRP’s upward price movement.
Whale Confidence Supports Strong XRP Fundamentals
The convergence of rising whale accumulation, altcoin season, and strong upward momentum provides solid footing for XRP’s current rally.
Still, much depends on Bitcoin’s stability and overall market sentiment. For now, though, it appears that both whales and retail investors are aligned in their bullish stance on XRP.
