Whale wallets holding at least 10 million XRP have accumulated roughly 45.83 billion tokens – an eight-year high, according to data from Santiment. Analyst Zach Humphries notes that large holders now control 68.5% of XRP's circulating supply. The concentration comes as XRP trades in a narrow $1.3–$1.4 range, locked in a steep downtrend despite positive developments from Ripple.
Whale Holdings Hit Eight-Year Peak
The latest Santiment figures show the combined XRP stash among big wallets hasn't been this high since 2017. These whales have been quietly building positions even as the broader market struggles. Humphries says such aggressive accumulation could make the sell side extremely thin – meaning any sudden buying pressure could send prices sharply higher. But it also raises the risk that a few large holders dumping would hit the market hard.
Technical Indicators Signal Imminent Move
Analyst Ali Martinez points to a tight Bollinger Band squeeze on XRP's 3-day chart – a pattern that typically precedes a sharp price swing. Martinez warns the direction is far from settled: a close above $1.50 could spark a rally above $1.8, while a drop below $1.29 might trigger a correction toward $1. Santiment suggests the recent accumulation could push XRP back toward $1.5, but the current price action doesn't confirm that yet.
Risk of a Thin Sell Side
Humphries argues that if whales keep buying, the number of tokens available to trade shrinks. “The sell side is getting awfully thin,” he said, paraphrasing his warning. That dynamic creates a setup where even moderate buying demand could cause outsized moves. But it also leaves the market vulnerable if a large holder decides to cash out – a scenario that could accelerate losses in the current downtrend.
Price Outlook Remains Clouded
For now, XRP is stuck between the accumulation signal and bearish technicals. The Bollinger squeeze means a breakout is coming, but which way? Martinez's levels offer a clear roadmap: $1.50 to the upside, $1.29 to the downside. The whales are betting big, but the market hasn't decided whether that's a vote of confidence or a trap. One thing is certain: the next move could be violent.
