Over 332,000 wallets now hold at least 10,000 XRP — a new all-time high for the network — signaling that mid-to-large investors keep stacking despite a rocky market. The milestone comes as XRP trades around $1.43, down 1% in the last day, and one big corporate buyer sits on a $389 million unrealized loss.
Why the Whale Count Recovered
The number of wallets with 10,000-plus XRP plunged during the price crash in late January and early February. But it bounced back quickly and has been climbing ever since through March, April, and May. According to Santiment, the continued rise in that wallet cohort is a long-term accumulation signal — one that holds even as volatility and uncertainty rattle the broader crypto market.
At current exchange rates, holding 10,000 XRP costs roughly $14,300. That threshold puts these wallets squarely in the mid-to-large investor category, often called whales when the sums get bigger.
The $950 Million Bet That's Underwater
Treasury company Evernorth spent $950 million building its XRP stash. Today that investment is worth about $561 million, meaning the firm is down $389 million on paper. Evernorth hasn't publicly signaled a plan to sell, but the size of the loss underscores the risk in this kind of concentrated accumulation.
Still, the wallet data suggests other players are following a similar playbook — buying through the dip and holding.
What the Record Means for the Network
A rising number of wallets with 10,000+ XRP doesn't guarantee a price rally. It does show that a certain class of holder isn't spooked by the recent slide from XRP's highs. Santiment's reading of the data points to patience: these investors appear to be accumulating for the long haul, not trading the daily swings.
The question now is whether that patience will hold if XRP slips further below $1.40 — or if the accumulation trend starts to reverse as it did in late January.
