XRP Whales Control 68.5% of Supply, Highest Since November 2022

Wallets holding a minimum of 10 million XRP currently command 46.87 billion tokens, representing approximately 68.5% of the entire supply. This concentration occurs while the price of XRP struggles near the $1.3 level. Santiment indicates that large holders are continuing to accumulate despite the present market weakness.

The prevailing trend suggests that major investors are sustaining their exposure, whereas smaller traders might be losing conviction. However, Santiment noted that the crypto asset requires clearing important price thresholds before a more robust recovery can materialize. The $1.3 mark remains a critical level, and $1.5 could provide stronger validation of bullish momentum.

Continued accumulation by whales, alongside holding above $1.2, would support the current outlook. Furthermore, increased whale holdings could bolster the argument for a recovery. Regarding exchange activity, XRP outflows reached roughly 5.3 billion tokens over a 30-day span, which is lower than the 6 billion XRP recorded in October.

Binance led the outflows, accounting for the largest portion, with OKX following at 501.51 million. Bybit recorded 479.94 million in departures, followed by Upbit with around 392.90 million XRP, and Bitget reported 243.39 million. Outflows decreased during the first half of August before rising later that month, with higher levels persisting through September and October following a quieter summer.

These movements may indicate that more XRP is shifting into private or alternative platforms, potentially reducing the tokens available for immediate sale on exchanges. Separately, the TD Sequential indicator has signaled a buy on the three-day chart; the last three similar signals resulted in rebounds of 31%, 24%, and 18%.

On the ETF front, US-listed spot XRP funds began the week with $3.61 million in outflows, reversing prior week's positive movement.

In corporate investment, Evernorth Holdings plans to raise up to $80.7 million via an equity facility with Cantor Fitzgerald. A portion of these funds will be used to acquire more XRP, in addition to funding operations and developing products across the XRP ecosystem, building on its recent Nasdaq listing under XRPN.

Evernorth already holds approximately 473 million XRP in its treasury and seeks to generate returns through institutional strategies. This entity has also partnered with Ripple, Kraken, Coinbase, and BitGo to aid these objectives. Additionally, Ripple is enhancing its corporate treasury platform with AI-driven automation and 24/7 payment services, introducing a new 24/7 Returns feature that may permit eligible businesses to earn returns on qualifying digital assets, including RLUSD, outside standard banking hours.

These developments highlight significant institutional maneuvers and evolving infrastructure capabilities within the digital asset space, suggesting a deepening integration of established entities into the underlying protocols.

Why it matters

The concentration of supply in large wallets suggests significant institutional conviction amidst price pressure near $1.3. This accumulation trend, combined with corporate treasury activity, provides context for potential future movements in the asset's market structure. Investors should watch how these large holder dynamics interact with broader market levels like $1.5.