Key Takeaways
- XRP fell roughly 30% in seven weeks, while wallets holding at least 10,000 tokens reached approximately 343,500.
- Santiment reported 16,815 additional qualifying wallets over nine months, with growth accelerating in November.
- Bullish futures positioning contrasts with $10.4 million in spot XRP ETF outflows, showing mixed demand.
XRP’s larger-wallet population is expanding despite a roughly 30% price decline over seven weeks, according to Santiment, creating a divergence as the token approaches the psychologically important $1 level.
The analytics firm counted approximately 343,500 wallets holding at least 10,000 XRP, an increase of 16,815 addresses, or 5.15%, over nine months. It said growth accelerated in November even as XRP fell toward $1.05.
Santiment interpreted the trend as evidence that some better-capitalized holders are building positions during the selloff.
However, contrasting signals from derivatives markets and exchange-traded funds suggest the recovery case remains unsettled.
Larger XRP Wallets Expand During the Selloff
Santiment’s assessment highlighted a growing population of addresses above the 10,000-XRP threshold while smaller investors worried about prices slipping below $1.
At $1.05 per token, the minimum qualifying balance represents approximately $10,500. The category therefore includes a broad range of holders, from moderately sized investors to much larger wallets.
The nine-month increase also covers a longer period than the seven-week price decline. Although Santiment flagged faster growth this month, the full 16,815-address gain should not be treated as accumulation occurring entirely during the latest correction.
The firm described the opposing movement in price and wallet numbers as an encouraging sign that some holders are buying into weakness.
Address counts nevertheless require careful interpretation. They measure qualifying wallets rather than unique investors, and do not establish how many tokens the entire group purchased.
XRP Ledger documentation explains that exchanges can serve multiple customers through shared addresses, using destination tags to identify individual beneficiaries. Consequently, one large address can represent numerous investors, complicating assumptions about ownership.
Bullish Futures Positioning Meets ETF Withdrawals
Additional market data provides a counterweight to Santiment’s accumulation thesis.
CryptoQuant analyst Darkfost reported that the rolling 30-day sum of funding rates for XRP perpetual futures on Binance had reached approximately +0.18%, its highest level since October 2025.
The reading tracks cumulative funding over a month rather than the charge applied at a single funding interval. Positive funding generally means traders holding long positions pay those holding shorts.
Darkfost said bullish positioning remained elevated despite XRP’s correction. His analysis noted that earlier funding extremes had coincided with price peaks, while deeply negative readings appeared around market bottoms.
Meanwhile, spot XRP ETFs recorded approximately $10.4 million in net outflows, equivalent to 9.37 million XRP, during the session he highlighted.
Taken together, those indicators suggest uneven demand: larger-wallet counts are rising, futures traders retain bullish exposure, and investment-product holders have withdrawn capital.
These measures capture different activities. None independently confirms whether sufficient spot buying exists to reverse the decline, while crowded leveraged positions could amplify losses if prices weaken further.
Santiment Puts $1 at the Center of Its Outlook
Santiment identified $1 as the immediate level XRP needs to defend.
Its recovery scenario depends on three conditions: continued growth in wallets holding at least 10,000 tokens, XRP remaining above $1, and Bitcoin stabilizing. If those conditions align, the firm said XRP could recover toward $1.10-$1.15.
From a reference price of $1.05, that range implies gains of approximately 5%-10%.
The downside scenario involves XRP losing $1 while growth in larger wallets reverses. Santiment said that combination could trigger another short-term selloff, potentially followed by a sentiment-driven bounce.
Those outcomes remain conditional forecasts.
The growing wallet population offers a constructive signal, but XRP still needs firmer price support and broader demand to demonstrate that accumulation can outweigh persistent selling pressure.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
