XRP Whales Stock Up Amid Token's Price Plunge

XRP whales have been accumulating holdings despite the token's recent price drop below $1 for the first time since November 2024.

The number of wallets holding at least 1 million XRP rose over the past three months, with a total of 32 new addresses added, bringing the cohort to 2,038. This increase in large holders has raised questions about whether they are positioning for a rebound.

Santiment analysts view this accumulation as a positive sign, noting that stronger hands are absorbing the panic and driving the XRP crypto sell-off.

Ripple's stablecoin, RLUSD, is seeing increased adoption, with its supply rising by almost 1% in the past month to $1.55 billion. The XRP Ledger is also seeing increased use cases, particularly in payments, custody, and tokenization.