The XRP Ledger has reached a major milestone, with accumulation among large holders continuing to strengthen despite ongoing market volatility.
Specifically, the number of wallets holding at least 10,000 XRP has climbed to an all-time high of 332,230, extending a steady growth trend that has been building since June 2024, according to on-chain data shared by Santiment on May 13.
The insights indicate there was a temporary interruption in the trend between February 6 and February 8, when more than 4,500 wallets holding over 10,000 XRP disappeared from the network.
While there was no confirmed XRP-specific event tied to the decline, the drop coincided with a broader cryptocurrency market crash and widespread liquidations across digital assets.
However, the XRP Ledger has since fully recovered from that decline, with the number of whale wallets surpassing previous levels and continuing to trend upward into May 2026.
The continued rise in large wallets suggests major investors have been accumulating XRP despite the token trading below previous highs for much of 2026.
Historically, growing whale holdings are viewed as a bullish long-term signal, reflecting stronger investor conviction and potentially reducing available supply on the market, which can support future price gains if demand increases.
Despite the growth in accumulation, XRP’s price has remained relatively subdued compared to earlier highs, suggesting investors have continued building positions quietly during periods of fear and uncertainty rather than chasing momentum-driven rallies.
Indeed, the asset has lacked internal catalysts to drive significant price growth, with XRP mainly relying on broader crypto market sentiment.
XRP price analysis
By press time, XRP was trading at $1.46 after slipping about 0.25% in the past 24 hours, while on the weekly timeframe, the asset was up 2.5%.
At the current price, XRP is trading slightly above its 50-day SMA of $1.39, signaling that the token has maintained short-term bullish momentum.
However, it remains below the 200-day SMA of $1.76, suggesting the broader long-term trend is still facing pressure despite recent recovery attempts.
Meanwhile, XRP’s 14-day RSI stands at 63.46, placing it in neutral territory but close to overbought levels.
This indicates that buying momentum has strengthened in recent sessions, though the asset could face resistance if bullish pressure weakens near current levels.
