The XRP Whale accumulation trend has persisted even after the drop in the price of XRP. The trend shows an increase in the stakes of larger whales despite unfavorable market trends in the cryptocurrency market as a whole. Wallets that hold more than 10,000 XRP have kept on growing for nine months straight now, according to Santiment Intelligence.
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This is because the coin has undergone a sudden price pullback after experiencing gains in previous months and weeks. At the same time, some major wallet investors have been buying in recent weeks while others are adding to their holdings.
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XRP Whale Accumulation Shows Steady Growth
As highlighted by Santiment Intelligence, the number of XRP addresses with holdings of at least 10,000 is now estimated to be around 343,500, reflecting an increment of about 5.15% since the last nine months.
The overall number of individuals who have held XRP has been rising continuously as well. The total number of XRP holders has grown to 8.66 million within the year.
XRP Whale Accumulation being on the rise is something to keep an eye on, as large wallets can help us understand how the whales are positioning themselves during price volatility.
It is important to note that an increase in wallets does not automatically mean that all the whales are buying more XRP. It is possible that some investors spread their holdings across various wallets.
XRP Price Faces Heavy Selling Pressure
Despite an increase in XRP wallets, XRP has failed to stabilize its price levels. The XRP coin has lost close to 30% of its value over the last seven weeks, and an 18.75% fall in the price of XRP within the last week.
Some of the key market events that have been behind the underperformance of the coin include the US inflation numbers that are higher than expected and the sell-off in technology stocks.
Uncertainty in the political arena has also come up in the conversation due to the Democrats’ triumph in both houses of Congress. The election result has caused doubts about the future path of US crypto regulations and laws.
The additional burden on XRP was brought about by the latest security issue at Binance, where almost $300 million of XRP tokens were involved. Also, the outflow of XRP ETF is estimated at $18 million in two days.
These events make it difficult for XRP, even as XRP whale accumulation is going up.
Ripple Expands Institutional Adoption Through BNY and C2FO
Although the price of XRP is under pressure in the short run, Ripple is still working on developing use cases for its payments and custodial system.
On October 27, Ripple announced that it had partnered further with BNY, integrating XRP and Ripple’s dollar-pegged stablecoin RLUSD into the custody system of the bank.
Another partnership involving Ripple is with C2FO, which will enable the XRP Ledger to facilitate trade finance settlement via RLUSD. This partnership is expected to ensure that suppliers get paid within seconds instead of having to wait for days through traditional payment methods.
The above partnership could make the XRP Ledger more relevant for business entities that require quick access to working capital. It shows how Ripple’s stablecoin efforts are forming part of its broader institutional payment services.
These events offer yet another key point to consider when assessing XRP Whale Accumulation and the network’s future growth.
Can XRP Whale Accumulation Support a Price Recovery?
The increasing number of large XRP wallets represents an important on-chain trend to look for while the market is experiencing its current downturn. It is notable that there are now about 343,500 wallets with holdings above 10,000 XRP.
However, the accumulation of XRP Whales cannot be taken as evidence that the recovery of the crypto asset is imminent. In fact, selling pressure may still be high due to various factors.
Ripple’s growing partnerships with institutions may play well in favor of adoption of the XRP ledger in the future. If both continue to grow along with market demand, that could send a positive message about the performance of XRP in the future. Now, it is important to keep track of the XRP Whale Accumulation indicator.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Bena Ilyas is a Global News Correspondent and Market Analyst at Tronweekly with over four years of experience covering global cryptocurrency, blockchain, and Web3 developments. She has written 1,000+ articles for leading crypto news platforms, reporting on Bitcoin, Ethereum, altcoins, DeFi, and global crypto regulation, alongside Web3 trends, Layer 2 ecosystems, and AI-driven crypto use cases. Her work is based on verified sources and fact-based reporting for global market participants.
