XRP Whales Accumulate Despite Token's Record Low
XRP whales are continuing to accumulate XRP despite the token's price drop below $1 for the first time since November 2024.
According to Santiment data, the number of wallets holding at least 1 million XRP has increased by 32 over the past three months, bringing the total to 2,038 addresses. This group added more than 380 million XRP during the previous week.
Santiment analysts view this as a positive sign, indicating that stronger hands are absorbing the panic and driving the sell-off. They believe that patience is replacing price-related hype, which aligns with crypto analyst Ali Martinez's view that XRP is ready for a bull run.
Martinez observed that whales are positioning for potential XRP price movement and identified $1.06 as a key resistance level. Meanwhile, Ripple's stablecoin, RLUSD, is seeing increased adoption as an institutional stablecoin, with its supply rising by almost 1% in the past month to $1.55 billion.
The growing whale cohort provides evidence of accumulation, but it does not confirm that XRP has reached its bottom. A recovery above $1.06 would improve the immediate technical structure, while continued weakness below $1 would keep the broader downtrend intact.