Analysis: XRP Whale Holdings Rise 2.8% in Five Weeks, Supporting Further Gains
Summary
- As XRP reclaimed $1.16, continued accumulation by whale and shark wallets supported the potential for further gains.
- Santiment said holdings in wallets containing 100,000 to 100 million XRP rose 2.8% over the past five weeks, while holdings in micro wallets with less than 0.01 XRP fell 5.2%, highlighting a divergence in supply and demand.
- Santiment said broader access through spot XRP ETFs, easing regulatory uncertainty involving the SEC, and expanding use in payments and tokenization, along with growing utility for RippleUSD (RLUSD) and the XRP Ledger (XRPL), could support further upside for XRP.
Forecast Trend Report by Period
XRP has reclaimed $1.16, with continued accumulation by large holders supporting the case for further gains, according to an analysis.
Santiment, an on-chain analytics platform, said July 22 that whale and shark wallets holding between 100,000 and 100 million XRP increased their holdings by 2.8% over the past five weeks.
By contrast, holdings in micro wallets with less than 0.01 XRP fell 5.2% over the same period. Large investors effectively added to their XRP positions even as smaller holders reduced theirs.
Santiment said XRP has historically tended to move more in line with the activity of major holders than with that of tiny retail wallets. The recent divergence between whale and shark wallets and micro wallets therefore supports XRP's rebound, the platform said.
Santiment also cited expanding access for institutional investors as a positive factor for XRP. It pointed to institutional access through spot XRP exchange-traded fund products, easing regulatory uncertainty surrounding Ripple and the U.S. Securities and Exchange Commission, and broader use of the XRP Ledger, or XRPL, in payments, tokenization and RippleUSD, or RLUSD.
Santiment said the current supply-demand structure, with large holders accumulating XRP while interest from micro wallets fades, could support additional gains ahead.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.