XRP Whale Wallets Reach Record High as Price Jumps 26%

The number of large XRP (Ripple) holders has hit an all-time high, signaling renewed investor interest amid a 26% price surge. Analysts say the trend could mark the beginning of an altcoin bull run, as major players increase their stake in the fourth-largest digital asset by market capitalization.

According to data from blockchain analytics firm Santiment, the number of cryptocurrency wallets holding at least 1 million XRP tokens has climbed to 2,743. These so-called “whale” accounts now collectively control over 47.32 billion XRP, a significant chunk of the asset’s total circulating supply. The surge in whale activity has coincided with a sharp rally in the price of XRP, which recently reached $2.80, a 10% gain in just 24 hours.

This spike also led to the liquidation of around $31.44 million in short positions, as reported by crypto data provider CoinGlass. The price move caught many traders off guard, particularly after XRP had spent nearly 200 days consolidating between $1.90 and $2.90.

Santiment suggests the increased accumulation by whales is not an isolated event but part of a broader trend across the cryptocurrency market. “The data confirms that, for now, it has,” the platform said, referring to the long-anticipated onset of “altcoin season,” a period in which alternative digital assets outperform Bitcoin. Ethereum (ETH), the second-largest cryptocurrency, also posted strong gains, rising more than 17% over the past week to trade near $2,960.

Much of this momentum appears to be fueled by Bitcoin’s (BTC) continued success. The original cryptocurrency has shattered several price records over recent days, $112,000 on Wednesday, $116,500 on Thursday, and $118,780 on Friday. Santiment believes that as long as Bitcoin holds above its psychological support level of $110,000, altcoins like XRP stand to benefit from investors rotating profits into alternative tokens.

While XRP’s legal entanglements with the U.S. Securities and Exchange Commission (SEC) continue to cast a shadow, the rise in whale wallets could indicate optimism among insiders that a favorable resolution is near, or at least that the long-term outlook for Ripple’s token remains positive.

As always, volatility remains a factor in the cryptocurrency space. However, if current trends hold, XRP could be well-positioned for continued gains, with institutional investors leading the charge.