XRP, Largest Whale Accumulation Since 2018 Spotted...Is the Breakout Above $1.50 Really Beginning?

▲ XRP/AI Generated Image

As large XRP holders accumulate the largest volume since 2018, expectations for a breakthrough above $1.50 are spreading across the market.

According to NewsBTC on May 15 (local time), on-chain analytics firm Santiment revealed that wallets holding at least 10 million XRP currently hold a total of 45.83 billion XRP. This amounts to approximately $68.5 billion and is the highest level since May 2018. Santiment analyzed that these wallets control 68.5% of the total XRP supply.

Santiment stated via X (formerly Twitter), "XRP is testing the $1.50 market cap zone, and whale wallets are driving the uptrend." This movement is attracting market attention not merely as a price rebound, but as a strengthening long-term accumulation trend by large investors.

The technical zone has also emerged as a key turning point. Crypto analyst Cheds Trading analyzed that XRP is retesting the upper bound of a long-standing consolidation range. The area around $1.50 is currently the upper resistance line of a multi-month sideways trend, and a clear breakout above this level could change the short-term market structure itself. Conversely, if it fails to break out, XRP could fall back into its previous range.

The increase in medium to large investors is also evident. Santiment reported that the number of wallets holding at least 10,000 XRP on the XRP Ledger has reached an all-time high of 332,230. This indicator has shown a steady increase since June 2024. Santiment explained, "The fact that medium and large holders have continued to increase their holdings even during periods of volatility and uncertainty is an important long-term signal."

However, there was a temporary dip. Santiment stated that the number of wallets holding at least 10,000 XRP decreased by over 4,500 from February 6 to February 8. Although no specific negative news related to XRP was confirmed, it was analyzed that the widespread cryptocurrency market crash and large-scale liquidation shock at the time had an impact. Subsequently, the number of medium to large wallets recovered and exceeded previous levels. Santiment evaluated that the fact that large investors increased their holdings again during a bearish period is a key factor in interpreting this data as a bullish signal.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*