XRP wallets holding at least 10,000 tokens increased by 16,815 over nine months to approximately 343,500, even as the cryptocurrency traded near $1.05 after a 30% price decline.

At the same time, Binance XRP perpetual futures funding rates reached a one-year high, while the rolling 30-day funding sum recovered to 0.18%. Spot XRP ETFs, however, recorded $10.4 million in net outflows, equivalent to 9.37 million tokens. The contrasting data points show rising large-holder accumulation and bullish derivatives positioning alongside weaker spot ETF flows.

XRP Shark Wallets Increase During Market Decline

Santiment Intelligence reported that approximately 343,500 XRP wallets held at least 10,000 tokens in November. The figure represents a 5.15% increase over nine months and includes 16,815 newly qualifying wallets. The increase occurred while XRP lost approximately 30% over seven weeks.

Santiment identified continued growth in the number of XRP shark and whale wallets despite the falling price. Tracking these balance-size cohorts is a standard on-chain analytics method, since shifts among larger holders are treated as one gauge of where conviction sits during drawdowns. The analytics firm also highlighted $1 as a level XRP needs to defend. In a post on X, Santiment provided its data and analysis: https://x.com/SantimentData/status/2120603027170263531?a=A9ed31WB7cSsF3teeJg&s=20

Santiment said that if wallet growth continues and Bitcoin stabilizes, XRP could recover toward $1.10 to $1.15. The firm also warned that a loss of the $1 level combined with declining large-wallet growth could lead to additional short-term selling. It discussed the possibility of a subsequent bounce after increased retail fear.

Binance Funding Rates Reach One-Year High

Analyst Darkfost reported that XRP perpetual futures funding rates on Binance reached their highest level in more than a year. The previous comparable reading occurred in October 2025, after XRP reached its record high of $3.55. The rolling 30-day funding sum has since recovered to a positive 0.18%.

Perpetual futures are derivatives without expiry dates, and funding rates are periodic payments exchanged between long and short traders to keep contract prices aligned with spot markets; positive funding means longs pay shorts, a pattern generally tied to leveraged bullish demand. Darkfost noted that extreme funding readings can indicate crowded market positioning. During the summer, XRP rebounded 53% after falling to $0.70. The current bullish derivatives positioning contrasts with the cryptocurrency’s ongoing correction.

XRP ETF Outflows Contrast With Whale Accumulation

Spot XRP ETFs recorded net outflows equivalent to 9.37 million tokens. According to Darkfost, withdrawals reached $10.4 million during one of the year’s weakest sessions. Spot ETFs hold the underlying token directly, so net outflows mean redemptions outpaced new creations and fund holdings shrank — a flow metric analysts use to gauge spot demand through regulated fund vehicles. The outflows contrast with the increase in large-holder wallets and the positive Binance funding rates.

Darkfost also noted that previous funding extremes coincided with market tops and bottoms. The analyst identified funding rates and ETF flows as important measures for assessing XRP market positioning. With Santiment flagging $1 as the level to defend, the near-term picture hinges on whether large-wallet growth persists, whether funding stays elevated, and whether ETF outflows ease.