XRP large-holder activity is increasing even as the cryptocurrency approaches the psychologically important $1 level, creating a divergence that on-chain analytics platform Santiment considers potentially encouraging for the market. Wallets holding at least 10,000 XRP have reportedly climbed to approximately 343,500, increasing by 16,815, or 5.15%, over nine months.
The increase comes during a difficult period for XRP investors. The token has fallen sharply from its recent highs and was trading near $1.05 on November 11, putting the $1 threshold back in focus. The decline has intensified concerns among smaller investors that XRP could lose another important support level.
Santiment argues that the growing number of large wallets suggests some higher-capital participants are continuing to accumulate or maintain substantial positions rather than leaving the market. The analytics firm describes this as an encouraging divergence because the number of qualifying wallets is moving higher while the asset’s price is moving lower.
XRP Shark Wallets Increase Despite Market Weakness
The 343,500 figure covers addresses holding at least 10,000 XRP, a category commonly associated with shark-sized investors. The 16,815 increase over nine months indicates that more addresses now meet this balance threshold. However, the metric measures wallet numbers, not the number of individual investors or the total amount of fresh capital entering XRP.
Existing holders can move funds between addresses, split balances across multiple wallets or consolidate assets. Exchange custody arrangements can also affect address counts. Consequently, a rising number of qualifying wallets does not independently establish that new investors are purchasing XRP or that all existing large holders are increasing their exposure.
Related: David Schwartz Reveals He Sold Nearly All His XRP, Bitcoin and Ethereum Holdings
Nevertheless, the trend is drawing attention because it coincides with substantial price weakness. XRP has struggled to maintain upward momentum, with the latest market data showing the token around $1.05 on November 11. The decline has also occurred alongside broader weakness across digital assets, making it difficult to determine how much of the selling pressure is specific to XRP.
Other recent Santiment-related data has also pointed to large-holder accumulation. A separate analysis published on November 11 reported that major XRP holders added approximately 65.32 million tokens over four days, worth nearly $72 million at prices during the accumulation period. That measure tracks changes in large-holder balances and is distinct from the 10,000-XRP wallet-count statistic.
Can XRP Defend $1 and Recover Toward $1.15?
Santiment identifies $1 as the key psychological level to watch. If XRP holds above that threshold, Bitcoin stabilizes and the number of wallets holding at least 10,000 XRP continues increasing, the firm sees a possible recovery toward $1.10 to $1.15. Such a move would represent an initial recovery rather than confirmation of a sustained bullish reversal.
The downside scenario is equally important. A decisive break below $1 could increase selling pressure, particularly if the number of qualifying wallets begins to decline. That combination would weaken the accumulation narrative and suggest that larger holders are no longer providing the same degree of support.
Recent market conditions show why the distinction matters. XRP has continued falling despite reports of whale accumulation, while US spot XRP exchange-traded funds recorded approximately $10.42 million in net outflows on November 9. The market therefore has competing signals: some large holders appear to be increasing exposure, but institutional fund flows and price momentum remain weak.
For XRP investors, the next few sessions could reveal whether the growing wallet count represents sustained confidence or simply changes in how existing holdings are distributed. A recovery above $1.10 would improve the immediate technical picture, while a move toward $1.15 would strengthen the case for a broader rebound.
The growing number of shark wallets offers an interesting counterpoint to retail pessimism, but it does not guarantee that XRP has reached a bottom. The $1 level remains the immediate test, and whether large-holder accumulation eventually translates into stronger market demand will be more important than the wallet count alone.
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