XRP whales holding at least 10 million tokens now control 46.87 billion XRP.
That stake equals roughly 68.5% of the circulating supply and marks the highest concentration for this group since November 2022.
Santiment data shows these large wallets have continued adding exposure even while the token trades near $1.29.
The divergence between price action and whale behaviour stands out clearly.
Smaller traders appear more inclined to sell into weakness, yet the biggest holders keep expanding their positions.
In the meantime, the supply share held by wallets above the 10 million threshold has climbed steadily through 2026.
This pattern creates a classic setup in which conviction at the top of the holder pyramid can eventually support a recovery once selling pressure from weaker hands eases.
Why does rising whale ownership matter for XRP right now?
Large stakeholders who accumulate through soft price periods often signal longer-term confidence.
Their continued buying reduces the free float available to retail participants and can amplify upside moves once demand returns.
At the same time, the concentration raises liquidity considerations: fewer active sellers among the biggest wallets can make order books thinner during sharp rallies or sell-offs.
What price levels currently define the accumulation thesis?
Santiment identifies $1.30 as the immediate pivot that traders are watching.
A sustained hold above $1.20 keeps the broader accumulation narrative intact.
On the other hand, a clean reclaim of $1.50 would strengthen the case for a more meaningful recovery.
Beyond that further growth in whale balances alongside a move through $1.50 would provide stronger confirmation that large capital is positioned for upside.
How does the fixed supply structure influence these dynamics?
Ripple token’s total supply remains capped at 100 billion tokens, with roughly 68.6 billion currently circulating.
Because no new tokens enter the market, every additional unit accumulated by whales directly tightens the available float.
In parallel, the steady rise in the 10-million-plus cohort share over the past year shows that this tightening has accelerated even as price struggled to hold higher levels.
The current picture leaves XRP in an interesting position.
Whales have pushed their ownership share to a multi-year high while price remains soft.
Whether that conviction eventually translates into a stronger recovery depends on whether smaller holders continue to exit and whether the key technical levels hold.
For now, the on-chain data paints a clearer picture of large-holder confidence than the daily price chart alone suggests.
