Wallets Holding Over 1M Tokens Hit All-Time High

XRP may be trading sideways, but behind the scenes, whales are making moves. According to the latest data, the number of wallets holding over 1 million XRP has hit an all-time high of 2,850, a record in XRP’s 12-year history.

Wallets with 10,000+ XRP have surged too, up 6.2% year-to-date, now totaling around 306,000 wallets. The strong accumulation among whales shows growing confidence in XRP’s long-term potential.

Some have also pointed to a recent drop in XRP exchange reserves as a bullish sign. But experts like Dom caution that on-chain data can be misleading, as tokens moved off exchanges are not always newly purchased, and wallets are often misclassified.

Over $915M in XRP Bought in Just One Week

In the past week, XRP whales have bought over 420 million tokens, worth more than $915 million, which shows strong confidence in XRP’s recovery. But while big investors are buying, the number of new XRP wallets has dropped to a two-month low. Fewer users are entering the market, which shows hesitation despite the whale activity.

XRP Surged 6% on Heavy Volume

XRP recently saw a 6% surge, climbing from $2.19 to $2.23 before settling around $2.20. The rally was driven by a huge spike in trading volume, over 108 million XRP in one hour, nearly four times the usual. 

Whales made big moves during the rally. One transfer sent $58 million to Coinbase, and Ripple moved $439 million to an unknown wallet. But XRP held strong with strong buying support.

Retail Interest Is Picking Up

Retail interest in XRP is rising fast as Google searches for “XRP to $3” are climbing, and many traders expect a breakout between July and September. With the Ripple vs. SEC case still pending, regulatory clarity could be the next big catalyst. Some analysts now see $3 to $5 as the next price target range.