XRP Whales and Sharks Increase Holdings by 2.8%

XRP's recent climb to a two-week high is being underpinned by more than improving market sentiment. Fresh on-chain data from Santiment shows that the network's largest holders have been steadily accumulating, reinforcing expectations that institutional and high-net-worth investors are positioning for further gains.

Wallets holding between 100,000 and 100 million XRP — commonly referred to as whales and sharks — have increased their combined holdings by 2.8% over the past five weeks. This buying activity coincided with XRP reclaiming $1.16 before easing to $1.14, according to CoinCodex.

Large investors typically add to positions during consolidation phases rather than chasing rallies, a pattern that signals growing confidence in XRP's medium- to long-term outlook. The accumulation also comes after a prolonged period in which XRP's price was weighed down by regulatory uncertainty, making the current pickup in large-wallet activity a notable shift from the caution that characterized much of the token's recent history.

Retail Wallets Move in Opposite Direction

Retail investors have taken a different approach. Santiment reports that wallets holding less than 0.01 XRP reduced their balances by 5.2% over the same five-week period.

Historically, XRP has often delivered stronger performance when major holders accumulate while smaller wallets sell — a divergence that market observers view as a notable signal. Similar whale-retail divergences have preceded notable moves in other major cryptocurrencies, including Bitcoin and Ethereum, where large-wallet accumulation during periods of retail capitulation has sometimes marked local bottoms.

Improving Fundamentals Support On-Chain Strength

Santiment noted that XRP's on-chain metrics are also supported by improving fundamentals. Institutional access continues to expand through XRP exchange-traded funds (ETFs), with multiple asset managers having filed for spot XRP ETF products following the conclusion of Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC). The 2024 court ruling that determined programmatic sales of XRP on exchanges did not constitute securities offerings removed a major overhang that had suppressed institutional participation for years.

The XRP Ledger's broader adoption across cross-border payments, tokenization, stablecoins, and AI-driven financial applications continues to expand its utility beyond speculation. Ripple's payment network positions XRP as a bridge asset for institutions seeking faster settlement times compared with legacy correspondent banking systems such as SWIFT, which typically require days for cross-border transfers.

Growing usage of Ripple's RLUSD stablecoin has further boosted activity across the ecosystem.

Derivatives Market Signals Positioning

Derivatives markets are contributing to the broader narrative. Open interest has continued to build despite relatively subdued spot trading, suggesting that traders are positioning for a larger directional move rather than reacting to short-term price fluctuations.

Combined with XRP's series of higher lows, the market structure has drawn attention from analysts.

Technical Outlook: Triple-Bottom Pattern Under Watch

From a technical standpoint, analysts are closely monitoring a developing triple-bottom pattern — a formation often associated with major trend reversals. A decisive breakout above key resistance on strong volume could trigger the next leg higher, with some long-term price targets cited at $9, $15, and $31.

The combination of whale accumulation, strengthening fundamentals, rising derivatives participation, and improving technical indicators points to a market environment that is drawing sustained attention from both institutional and retail observers.