Key Takeaways
- About 343,500 XRP wallets held at least 10,000 tokens.
- The category gained 16,815 addresses, or 5.15%, over nine months.
- Losing $1 as wallet growth reverses could bring a short-term sell-off.
XRP Large Wallet Count Expands During Price Decline
Blockchain analytics firm Santiment highlighted growth in large XRP wallets on Nov. 11 as the cryptocurrency fell roughly 30% over seven weeks. In its XRP large-wallet assessment, shared on X, the firm stated:
“XRP wallets holding at least 10K tokens are growing at a rapid rate here in November. There are now roughly 343.5K of these wallets, up 16,815 (+5.15%) in 9 months. Larger holders are expanding even as XRP falls toward $1.05.”
The firm interpreted this divergence, or opposing movement in price and wallet counts, as accumulation, meaning some holders were adding XRP to their positions. Santiment noted: “When larger holders keep appearing during a selloff, it suggests some higher-capital traders are using the fear to build positions instead of abandoning XRP.”
Wallet Counts Reflect Balances and Custody Arrangements
A separate measure had already shown growth among wallets with substantially larger balances. Santiment counted 2,147 wallets holding at least 1 million XRP on Nov. 3, the category’s highest tally of the year. That group had gained 28 addresses over 10 days, covering a different balance threshold and measurement period.
Santiment’s holder-distribution methodology groups addresses by token balance and distinguishes their number from their combined holdings. Crossing the 10,000-XRP threshold increases the qualifying count; dropping below it reduces the tally. The increase therefore establishes growth in that category, while purchase volume requires separate evidence.
Ownership also differs from the number of addresses recorded on the ledger. Exchanges and other providers can use shared XRP Ledger addresses, identifying customers through destination tags, numeric codes attached to payments. A single qualifying address can consequently represent funds belonging to multiple people.
Changes in custody can also affect where balances appear. Moving assets into self-custody of crypto holdings places them in wallets whose private keys the holder controls. Such a transfer can change the distribution of balances without representing a new purchase.
Santiment Ties XRP’s Next Move to $1 and Large-Wallet Growth
Santiment remarked:
“$1.00 is now the key XRP level to defend.”
XRP traded at $1.06 at 5:17 p.m. EST on Nov. 11, above the $1 level Santiment flagged, after swinging between $1.05 and $1.08 over the previous 24 hours. The token stood 18.61% below its $1.31 price a week earlier, 22.35% below $1.37 a month earlier, and 55.93% below $2.41 a year earlier.
For its Nov. 11 outlook, the firm tied a potential recovery toward $1.10-$1.15 to XRP holding $1, continued growth in wallets holding at least 10,000 tokens, and bitcoin stabilizing. A loss of $1 alongside a reversal in wallet growth would likely trigger a short-term sell-off, the firm assessed. It also anticipated that retail fear following such a decline could quickly lead to a bounce.
Broader address creation had strengthened earlier in November. Santiment reported 7,934 new XRP wallets on Nov. 1, the sixth-highest daily total of the year. That activity measured new addresses, a separate indicator from growth among wallets above a holding threshold.
Trading positions provided a contrasting signal. Among the most profitable XRP wallets tracked by Santiment, three active short sellers added about 2.1 million XRP to their positions since late October, the firm said Nov. 6. That directional trading exposure reflected bets on falling prices; spot-wallet balances measure XRP held directly in wallets.
