The price of the payments-focused cryptocurrency
According to on-chain data from Santiment, wallets with between 100,000 and 100 million XRP added 2.8% more coins to their balances in the last five weeks. This accumulation by whales and sharks coincided with the token’s rebound to $1.16 from $1 in late June, suggesting stronger hands are leaning into the current price action.
At the same time, smaller portfolios have lost 5.2% of their holdings over the same period. This capitulation by smallholders contrasts sharply with buying pressure from key stakeholders.
These divergent trends are bullish for XRP, according to Santiment.
“XRP price has historically tended to move more with key stakeholders and against smaller retail wallets, so this split supports the bullish argument behind the bounce,” the firm noted on X.
The timing aligns with several positive fundamental developments for XRP, such as improved institutional access through potential ETF products and continued utility in the XRP Ledger for payments, tokenization and the RLUSD stablecoin, the firm explained.
