XRP Whales on Buying Spree Even as Price Nears $1 - Coinpedia
XRP whales continue to accumulate the cryptocurrency even as its price nears $1, with large holders increasing their positions by 5.15% in nine months.
XRP rich list is showing steady growth despite the recent slump in the coin's price, which has fallen by about 30% in the last 7 weeks and 18.75% in the past week. The accumulation by large holders comes as most of the crypto market experienced a November downturn.
Whale Accumulation
According to blockchain Santiment Intelligence, XRP wallets holding at least 10,000 coins have grown to a total of 343,500, representing a 5.15% increase in 9 months. The total number of XRP holders has also experienced consistent growth in the past year, now reaching 8.66 million holders.
Price Pressure
Several factors have contributed to XRP's negative momentum, including hotter-than-expected US inflation, tech and AI stock sell-off, and Democrats securing majority seats in both the House and Senate. The recent Binance hack involving almost $300 million XRP and institutions dumping about $18 million in XRP ETFs in the past two days have further pressured the price.
Future Outlook
Santiment calls the current situation an "encouraging divergence" - historically a bullish sign when high-capital traders steadily absorb sell-side pressure. The $1.00 price level is now critical: should whales continue accumulating while XRP holds above $1 and Bitcoin prices stabilize, XRP could reclaim $1.10 to $1.15.
Conversely, the market could experience short-term sell pressure if wallet growth turns negative while XRP's price falls below $1. However, once retail fear, uncertainty, and doubt (FUD) subsides, prices might begin to recover and retest the $1.00 psychological support level.
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