Key Insights:
- XRP whales increase holdings as the XRP price dropped below $1 for the first time since November 2024.
- Market experts argue that this whale acquisition could provide an opportunity for a price rebound.
- RLUSD is seeing growing adoption as an institutional stablecoin as XRPL gets upgrades.
XRP whales continued increasing their holdings as the token slipped below $1 for the first time since November 2024.
Santiment data showed the number of wallets holding at least 1 million XRP rising over the past three months. The supplied data showed an increase of 32 wallets, bringing the cohort to 2,038 addresses.
The same group reportedly added more than 380 million XRP during the previous week.
The accumulation occurred while XRP remained under sustained price pressure. That divergence has renewed debate over whether larger holders are positioning for a rebound.
XRP Whales Increase Holdings During Sell-Off
Santiment analysts view the expansion of XRP whales, coinciding with a 29% drop in the token’s market cap, as a positive sign. They noted that stronger hands are absorbing the panic, driving the XRP crypto sell-off.
The token has been in a downward trend since peaking at $3 in August 2025. However, its decline has become pronounced in 2026, with the asset losing 44% of its value year to date.
Earlier today, it fell to $0.99, marking its first time below $1 since November 2024. While it later recovered and now trades around $1.02, the drop raises questions about what’s next for the token.
Still, Santiment analysts believe the rise in large holders means that patience is replacing price-related hype. This aligns with crypto analyst Ali Martinez’s view, who said a few days ago that XRP is ready for a bull run.
Martinez observed that whales are positioning for potential XRP price movement and identified $1.06 as a key resistance level.
RLUSD Sees Growing Adoption as XRPL Gets Upgrades
While XRP crypto continues to struggle, Santiment noted that other parts of the Ripple ecosystem are growing. Ripple’s stablecoin, RLUSD, is seeing increased adoption as an institutional stablecoin. New York regulators listed it as one of the approved stablecoins.
Amid a broader decline in overall stablecoin supply, RLUSD supply has risen by almost 1% in the past month, bringing it to $1.55 billion. While it is down from its peak of $1.9 billion, RLUSD is one of the more popular USD-pegged stablecoins with any sign of growth in that period.
Interestingly, XRP Ledger is also seeing increased use cases as Ripple pursues payments, custody, and tokenization. XRPL looks set to be the rail for these developments. With this, Ripple is backing its recent upgrade that will introduce institutional lending at the protocol level.
The upgrade still requires enough validator support to pass consensus and launch on the XRPL mainnet. Meanwhile, XRPL version 3.3.0 recently launched.
XRP Outlook Depends on Price Confirmation
The latest data presents a mixed setup for XRP. Whale addresses are increasing, and the supplied Santiment figures show large holders adding supply during market weakness. RLUSD also continues expanding under New York regulatory oversight.
At the same time, XRP remains close to the psychologically important $1 level.
A recovery above $1.06 would improve the immediate technical structure. Continued weakness below $1 would keep the broader downtrend intact.
The growing whale cohort provides evidence of accumulation, but it does not confirm that XRP has reached its bottom.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. Readers should conduct their own research before making investment decisions.
Oluwapelumi Adejumo is an experienced cryptocurrency journalist who has contributed to leading blockchain news platforms, including CryptoSlate and BeInCrypto.
