Cryptocurrency analytics firm Santiment has published new data on the XRP Ledger, indicating a notable shift in whale behavior in recent weeks.
According to the statement, the number of whale and shark wallets holding more than 100 million XRP has decreased significantly in the last eight weeks, while the total XRP balance of these wallets has reached a seven-year high.
Detailed Whale Wallet Analysis
According to Santiment data, the number of wallets holding more than 100 million XRP has decreased by 20.6% in the last two months. While a total of 569 large wallets disappeared from the system, the remaining wallets with higher balances appear to have continued to accumulate XRP. However, the total balance of these wallets reached 48 billion XRP, a seven-year high. The data suggests that while the profile of large investors has shrunk, those remaining in the market have aggressively expanded their positions.
Implications of Changing Whale Composition
This signals a period of “changing whale composition” within the XRP ecosystem, leading to speculation that existing large whales are pursuing a long-term accumulation strategy. Santiment analysts note that the increasing total balance, despite the decreasing number of wallets, suggests that large investors are adding to their positions rather than selling during the recent period of volatility.