XRP Whales Accumulate Over 300 Million Tokens as Price Rallies 18% to $1.29
Key Takeaways
- •XRP surged 18.19% on Friday to $1.29, a confluent resistance level untouched since early June, after clearing the $1.10 resistance that coincided with the mid-tier Bollinger Band.
- •Crypto whales acquired more than 300 million XRP tokens in 96 hours, bringing cumulative whale holdings above 16.36 billion tokens, which represents more than a quarter of the 62.68 billion coins in circulation.
- •XRP's open interest-weighted funding rate rose to its highest level since early January 2026, as the short squeeze forced short sellers to increasingly fund the positions of bullish traders.
- •Short positions accounted for $26.33 million of the $42.66 million in liquidations, while the futures long-versus-short price ratio remained slightly bearish at 0.97.
- •XRP futures trading volume grew 137% overnight and open interest volume hit $3.29 billion, showing the rally is reinforced by derivatives repositioning alongside spot accumulation by large holders.
XRP surged 18.19% on Friday, pushing the veteran altcoin to $1.29, a confluent resistance level untouched since early June. Ripple's native cryptocurrency cleared the $1.10 resistance during the rally, a level that coincided with the mid-tier Bollinger Band (BOLL).
Two Thresholds Secured: What's Next for XRP?
Presently, XRP's price trades approximately 10 cents above the green SuperTrend price, while a bigger breakout could take shape if the altcoin sustains above the $0.32 region. According to the technical setup, the red-label Bollinger Band points to a wider breakout — an outcome crypto whales have been anticipating.
Ali Martinez reports that crypto's big-time investors have been preparing for this move over the past four days: the 300 million XRP tokens they acquired symbolize an outbreak in buying activity. Per Santiment's data, the cumulative amount held by crypto whales has now breached 16.36 billion tokens.
XRP WHALES GO CRAZY! More than 300 million $XRP have been scooped up by whales in just 96 hours. pic.twitter.com/4Pv9ME8tEr — Ali Charts (@alicharts) August 20, 2026
The total circulation is currently limited to 62.68 billion XRP coins, while the total supply is capped at 100 billion. Whale holdings of 16.36 billion XRP therefore represent more than a quarter of the coins currently in circulation. A growing whale concentration is typically treated as a bullish sign, as it often reflects a broader long-term holder sentiment to HODL the token rather than trade it.
XRP's Funding Rate Shoots Up as Bears Foot the Bill
With a market-wide short squeeze wiping out billions of dollars for short-sellers, bears are now less keen to bet on a downturn in XRP's price. Data shows that XRP's Open Interest (OI) weighted funding rate has skyrocketed to its highest level since early January 2026.
In practical terms, this means short-sellers — otherwise known as crypto bears — have been increasingly paying for the positions of XRP's bulls. The short squeeze also flushed out extra leverage on the bearish side, considerably shifting the broader sentiment from bearish to bullish.
The long-versus-short XRP price ratio on the futures markets still sits slightly on the bearish side at 0.97, but shorts took in $26.33 million out of $42.66 million in liquidations. The overall action on leveraged markets amplified risk-on appetite, with XRP's futures trading volume growing 137% overnight and OI volume hitting $3.29 billion. Those conditions matter because they show the rally is being reinforced not only by spot accumulation from large holders, but also by a sharp repositioning in derivatives, where funding costs and liquidations can quickly change how much leverage remains in the market.
