Large XRP holders have lifted their share of the token's supply to its highest level in nearly four years, according to new on-chain data from Santiment.

Wallets holding at least 10 million XRP — a category commonly described as whales — now collectively control approximately 68.5% of the token's supply, roughly two-thirds of the total and their largest share since November 2022, when crypto markets were in a deep downturn following the collapse of the FTX exchange. The milestone comes as XRP, the native token of the XRP Ledger, trades near $1.29, underscoring a growing concentration of tokens among the largest addresses.

The figures suggest that major wallets have continued to build their positions despite uncertainty across cryptocurrency markets. On-chain analytics firms such as Santiment track how supply is distributed across wallet-size bands, giving market observers a view of holder behavior over time. Whales are closely watched because their large balances can influence market liquidity and investor sentiment, and analysts often interpret rising collective holdings as a sign of growing confidence among large market participants. Even so, wallet balances alone do not reveal whether owners are buying tokens for long-term investment or holding them for other purposes.

Why XRP Whale Accumulation Matters

The growing concentration of XRP among large wallets could have implications for the cryptocurrency's market structure. According to Santiment, the 68.5% share represents the highest level held by this wallet category in nearly four years, indicating that a substantial portion of the token's supply is concentrated in addresses holding at least 10 million XRP.

Such concentration can be significant because large holders may have the ability to influence market conditions when they transfer or sell substantial quantities. At the same time, accumulation can reduce the amount of supply actively available for trading if the tokens remain in wallets rather than moving onto exchanges. The latest data therefore offers a useful perspective on how XRP's supply is currently distributed.

However, wallet addresses should not be equated with individual investors. A single organization may control multiple wallets, while some large addresses may belong to exchanges or custodians holding assets on behalf of many customers. As a result, the figures do not establish that a small number of individuals personally own 68.5% of XRP.

Cointelegraph highlighted the data in an Oct. 27 post on X:

BULLISH: XRP whales holding 10M+ tokens now control about 68.5% of supply, largest share since November 2022, as they keep accumulating with price near $1.29, per Santiment. pic.twitter.com/4bIn0TMTA6 — Cointelegraph (@Cointelegraph) October 27, 2026

Could Whale Accumulation Support a Price Recovery?

The increase in whale holdings comes as XRP trades around $1.29, drawing attention to whether large-holder activity could influence the token's next move. Investors who believe major holders are positioning for future gains may view continued accumulation positively. If large wallets retain their tokens, reduced selling activity could help support market stability.

Whale accumulation, however, does not guarantee a rise in XRP's price. Price movements also depend on spot demand, broader cryptocurrency sentiment, market liquidity, and developments affecting the XRP ecosystem. Large wallets can also adjust their positions quickly, potentially creating selling pressure if substantial amounts move onto exchanges. Traders may therefore monitor whale balances alongside exchange inflows and trading volumes to assess whether the accumulation trend continues.

The Santiment figures available so far do not specify how many additional XRP tokens these wallets acquired during the latest period.

For now, whale accumulation has pushed the largest wallet category's share of supply to 68.5%, its highest level since November 2022. The development highlights the growing influence of large holders, although stronger market demand would still be needed to support a sustained price recovery.

Source: CoinoMedia