XRP Whale Wallets Hold 46.87 Billion Tokens, Most Since November 2022

Santiment Counts 46.87 Billion XRP in Whale Wallets

The largest wallets in the XRP market have spent close to four years adding to their holdings, and that accumulation run has now reached its most concentrated point since November 2022. On-chain analytics platform Santiment published the updated figures on Tuesday, October 27, showing that wallets holding at least 10 million XRP together control 46.87 billion XRP, a stash equal to roughly 68.5% of circulating supply. The reading was taken with the XRP price changing hands near $1.29, and the full dataset appears in its post on X. At the $1.29 level in effect when the data was compiled, a single qualifying wallet holds at least about $12.9 million worth of the token. A concentration level of that size means the token's supply distribution has shifted steadily toward the biggest addresses, with the platform presenting the trend as a notable stretch for the market's largest holders. Santiment measures the 68.5% share against circulating supply rather than XRP's capped maximum of 100 billion tokens, a distinction that matters when interpreting the figure, since the same 46.87 billion stash would equal roughly 47% of the full cap. The XRP Ledger's consensus mechanism validates transfers without mining, so the number reflects holdings that have already changed hands and settled rather than freshly issued supply. Large-wallet supply share is one of the indicators Santiment tracks across major assets, and XRP's reading now stands out against its own four-year baseline. Read this way, the data points to high-capital investors treating current price levels as an accumulation zone, holding through recent weakness instead of distributing into it. Whether that patience converts into price strength is a question of demand, and that is where the concentration reading stops.

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What a 68.5% Share Leaves Out

Rising balances do not by themselves prove that private investors bought the tokens. Addresses belonging to exchanges, custody providers and institutional structures can carry very large balances of their own, so the concentration figure should be read alongside other on-chain indicators instead of being taken as direct evidence of investor confidence. Santiment states this caveat directly in the same post. The concentration also cuts both ways once it is in place. When a large share of XRP sits with a limited group of addresses and is held for long stretches, the amount available for active trading shrinks, which can restrict tradeable liquidity. Large transfers from those addresses to exchanges would raise the opposite concern, feeding expectations of selling. Because price action becomes more sensitive when supply pools in a few hands, synchronized repositioning by major wallets can magnify swings, particularly when liquidity is thin. For the price side of the setup, Santiment points to three levels. A move above $1.30 that holds would be the first sign that buyers are regaining strength, while $1.50 marks the confirmation point for a stronger recovery scenario. A slide below $1.20 would weaken the short-term picture and suggest selling pressure is still in control. The platform treats these as reference levels to monitor rather than fixed targets, and notes they reflect market conditions at the time of publication. The $1.30 zone has already been tested recently, and our report on XRP back at $1.30 after an oversold bounce covers that move, while the levels themselves are mapped in detail on our XRP technical analysis page.

Demand Still Has to Confirm the Whale Data

For all its weight, the wallet data describes ownership, not demand. A 68.5% share sitting in large addresses supports sentiment, but a sustained move toward $1.50 still needs bid depth and trading volume, neither of which a balance sheet captures, and even that target would leave the token far below its all-time high. Our desk's reading of the current setup is to treat the 46.87 billion figure as context rather than a trigger, and to watch exchange inflows from large addresses, open interest in perpetual futures and spot volume for the confirmation the concentration data cannot provide. Across the altcoin market this is a familiar dynamic, and transfer data usually moves before price does. Whether the accumulation run itself is still running is left open by the record; the 46.87 billion reading is simply the latest point on it.