XRP Whales Hoard Record Amount Amid Market Recovery

XRP whales have been on a buying spree in recent weeks, adding over 1.6 billion tokens to their cumulative balance as the market shows early signs of recovery.

According to data sourced by Santiment, these large XRP holders increased their balance from 12.32 billion tokens worth $17.3 billion on September 20th to a current total of 13.93 billion tokens valued at $20.61 billion. This represents the largest XRP balance ever held by whales in history.

The accumulation pattern emerged after the price rebounded from a low of $1.25 on September 16th, with some distribution recorded in the days that followed before picking up pace again.

Notably, this surge in whale addresses holding between 10 million and 1 billion XRP tokens has seen rapid growth since August, with 37 new wallets joining the elite tier within the past six weeks.