On November 11, XRP co‑creator David Schwartz announced that his XRP balance fell from roughly 26 million tokens to about 3 million. Schwartz said his decision reflected a personal discomfort with risk.
At the time of the announcement, XRP had slipped below the $1.15 support level and was trading near $1.05. Technical data showed an RSI of 32, indicating weak momentum without a clear oversold condition. Analysts identified $1.00‑$1.03 as the next demand zone, with further declines potentially opening a $0.85‑$0.88 range.
CoinGecko reported that XRP’s market capitalization dropped from $81 billion on November 3 to $61 billion on November 10, a loss of $20 billion in one week. The market cap later rose modestly to $67.22 billion.
CryptoQuant data, cited by ArabxChain, indicated that XRP’s Sharpe‑like ratio on Binance fell to approximately –0.32 on November 10, a multi‑month low, suggesting that recent returns did not compensate for the risk taken.
Contrasting the insider’s sell‑off, analyst Ali Martinez noted that on November 11 XRP whales accumulated 65.32 million tokens over four days, bringing total whale holdings to 4.00 billion. AMBCrypto previously observed that wallets holding at least 1 million XRP rose to 2,147, a 2026‑high figure, even as the market cap fell by 29%.
While the increase in large‑holder wallets suggests conviction, Santiment cautioned that wallet balance changes alone do not confirm buying intent. Continued growth in 1 M+ wallets without a corresponding price rise could challenge the bullish narrative.
Overall, XRP faces mixed signals: a key insider reducing exposure and large‑scale holders increasing positions. Market participants will likely monitor the 1 M+ wallet count and price action for further clues.
