XRP Whales Reach Record Numbers Amid Price Surge
Recent data from Santiment highlights a significant milestone for XRP, as the number of wallets holding at least 1 million XRP tokens—commonly referred to as ‘whales’—has reached an all-time high of 2,743. This development coincides with a 26% surge in XRP’s price over the past week, signaling strong confidence among large holders in the asset’s potential.
Understanding the Whale Movement
Santiment‘s report reveals that these whales collectively hold 47.32 billion XRP tokens, underscoring their substantial influence on the market. The analytics platform notes, ‘Not only are there more XRP whales than ever, but the total supply they hold is also increasing,’ marking a positive outlook for XRP.
Price Performance and Market Impact
XRP’s price has risen 10% in the last 24 hours alone, trading at $2.80 at the time of publication. According to CoinGlass data, this rally has liquidated $31.44 million in XRP short positions, highlighting the asset’s bullish momentum.
Broader Market Trends
This surge aligns with a wider market breakout, with Bitcoin and Ethereum also posting gains. Santiment suggests these trends may signal the start of an altcoin season, where traders could shift profits into altcoins if Bitcoin stays above the $110k support level.
Key Facts
- XRP whales hit a record high: 2,743 wallets.
- Whales hold 47.32 billion XRP tokens.
- XRP price surged 26% in a week, 10% in 24 hours.
- $31.44 million in XRP short positions liquidated.
- Altcoin season may be underway, per Santiment.
