Whales Accumulate XRP During Price Correction
Key Summary
XRP whale wallets surged to 2,147 addresses holding over 1,000,000 tokens as buyers accumulated during a drop to $1.27 according to Santiment network data.
Key Bullets
- On-chain telemetry tracked by Santiment revealed that 2,147 distinct wallets now hold balances exceeding 1,000,000 tokens on the ledger.
- Data feeds showed that 18 new millionaire addresses materialized during a frantic 72-hour window as spot prices dipped to $1.27.
- Market participants are closely watching the $1.20 floor to verify whether the recent whale accumulation successfully defends the range.
- Order books on major trading venues recorded massive bids as large holders ignored broader retracements to expand inventory.
Whale Wallets Surge Past Previous Records
XRP dropped 6.3% toward $1.27 Monday morning after spot exchange order books recorded aggressive liquidations from leveraged retail traders. On-chain metrics published by Santiment confirmed that 2,147 individual wallets now hold a balance of 1,000,000 tokens or more across the ledger. This total marks an annual high for large-scale addresses holding seven-figure sums.
Whale addresses expanded rapidly throughout late October as spot prices contracted toward multi-week lows. Data gathered from network ledgers showed that 28 new addresses attained millionaire status over a ten-day period. Eighteen of those wallets opened in the final 72 hours of the reporting cycle.
Large Capital Defies Broader Market Retracements
Unlike short-term retail speculators chasing quick arbitrage on DEX venues, institutional-grade actors deployed heavy capital during the weakness. Transaction flows monitored across exchange gateways indicated zero distribution from legacy whale wallets during the price slide. Large holders systematically increased their exposure while retail participants dumped inventory at a loss.
Order book depth monitored by brokerage desks showed heavy buying walls clustering right around the $1.25 zone. Trading desks reported that capital concentration at these specific levels mirrors historical accumulation phases observed prior to macro reversals. Liquidity vanished from the sell side instantly.
Key Thresholds Define Upcoming Price Action
Traders are currently monitoring the $1.20 to $1.25 range as the primary baseline for structural market health. If the spot price holds inside this bracket and wallet counts stay above 2,140, the bullish thesis remains intact. Market makers noted that defending this floor is mandatory for any subsequent leg higher.
A sustained push back above the $1.30 mark is required to clear local resistance and restore confidence among retail participants. Consolidation above $1.40 will confirm that the correction has ended. Capital is positioned for the next move.
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