Whale and shark addresses on the XRP Ledger, which hold between 100,000 and 100 million XRP, have accumulated over 1.5 billion XRP since October of the previous year, despite a decline in whale transactions on the network. These addresses, considered significant holders, have been steadily increasing their XRP holdings over the past year. According to Santiment, these addresses held a cumulative balance of $7.16 billion worth of XRP as of October 9, 2022, and that balance has grown to $7.89 billion in the latest data. This represents an increase of 1.53 billion XRP in their holdings.
These significant addresses now hold approximately 26.8% of XRP’s total supply, up from 24.1% a year ago. Their accumulation behavior became particularly notable in November 2022, coinciding with events like the FTX implosion and a legal victory for XRP. Despite a decline in the number of whale transactions (transactions above $100,000) on the XRP network compared to previous years, these large holders have continued to amass XRP.
It’s important to note that the behavior of significant holders can influence market dynamics, and their continued accumulation suggests a certain level of confidence or strategy regarding XRP’s future prospects.