Wallets holding at least 1 million XRP now control 74.1% of the total supply after adding 1.53 billion coins over the past six months. That kind of concentration leaves the token in the hands of a relatively small group, and it helped XRP climb back above $1.20 this week after the latest round of selling.
Santiment said the largest wallets have been adding steadily since mid-2024, even as the market moved through a stretch of weakness. The concentration matters because it changes the amount of XRP likely to be available for trading at any given moment. When a small number of wallets keep absorbing supply, price can rise faster on less available liquidity. When they decide to sell, the same structure can work the other way.
The buying trend has not been a straight line. The February crash briefly scared off 4,500 of the large wallets before buying resumed, and the latest data show the accumulation continued through every dip since then. That helps explain why the current setup looks different from a broad retail-led market: smaller holders were selling XRP into the Iran-war selloff while the biggest wallets were still building positions.
CoinDesk said XRP fell from $1.2170 to $1.1869 during a 24-hour session, with selling intensifying during the June 17 19:00 UTC period when volume surged to 128.7 million XRP. The token later found buyers near $1.1750 and held above the session low of $1.1747, a sign that demand is still present even after support at $1.20 gave way for a time.
What makes the latest accumulation more important than a simple whale-count story is that not every large wallet represents the same bet. Some of those holdings sit on exchanges and reflect customer balances rather than direct conviction. Even so, Santiment’s figure shows that wallets with 1 million XRP or more now dominate the supply, and the market is being shaped by their choices more than by smaller holders.
That leaves the next move in the same hands that drove the latest shift. If the biggest wallets keep adding, the tight supply can keep amplifying rebounds. If they turn into sellers, the market can absorb a flood just as quickly. For now, XRP’s bounce above $1.20 looks less like a clean breakout than a test of whether concentrated ownership keeps leaning bullish or starts to unwind.
