XRP Whales Now Control 68.5% of Supply, Highest Level Since 2022

Whales now control 68.5% of XRP supply, the highest level since November 2022.

Wallets holding at least 10 million XRP now control 46.87 billion tokens, equating to approximately 68.5% of the total supply. This occurs while the price of XRP is struggling near $1.3. Santiment suggests this indicates that major holders continue to accumulate despite the current weakness.

The latest trend shows major investors maintaining their exposure, whereas smaller traders might be losing confidence. However, Santiment explained that the crypto asset still needs to surpass key levels before a stronger recovery can emerge. The $1.3 level is critical, and $1.5 could provide stronger confirmation of bullish momentum.

Holding above $1.2, combined with ongoing whale accumulation, would bolster the outlook. Further increases in whale holdings could strengthen the case for a recovery.

Meanwhile, XRP exchange outflows totaled about 5.3 billion tokens over a 30-day span. This amount is less than the 6 billion XRP seen in October. Binance accounted for the largest portion of the 2.206 billion tokens leaving, followed by OKX with 501.51 million, and Bybit with 479.94 million in outflows.

Upbit saw around 392.90 million XRP depart its platform, and Bitget followed with 243.39 million. Outflows lessened during the first half of August before increasing later that month. Higher levels persisted through September and October, recovering from the quieter summer period. These movements might suggest more XRP is shifting to private or other platforms, potentially reducing tokens available for sale on exchanges.

The TD Sequential indicator has flashed a buy signal on the three-day chart. The three previous similar signals were succeeded by rebounds of 31%, 24%, and 18%.

Regarding ETFs, US-listed spot XRP funds began the week with $3.61 million in outflows, reversing a positive trend from the prior week.

On the corporate investment front, Evernorth Holdings plans to raise up to $80.7 million via an equity facility with Cantor Fitzgerald. This funding will support operations, product development across the XRP ecosystem, and buying more XRP. Evernorth already possesses about 473 million XRP in its treasury and seeks returns through institutional strategies. It has partnered with Ripple, Kraken, Coinbase, and BitGo for these plans. Additionally, Ripple is enhancing its corporate treasury platform with AI-powered automation and 24/7 payment services. Its new 24/7 Returns feature might enable eligible businesses to earn returns on qualifying digital assets, including RLUSD, outside of standard banking hours.