XRP wallets holding at least 10,000 tokens have expanded during a significant price decline, with blockchain analytics firm Santiment reporting growth in large holders on November 11.
The firm counted approximately 343,500 wallets in the 10,000-token category, up 16,815 addresses or 5.15% over nine months. This growth occurred as XRP fell roughly 30% over seven weeks and traded near $1.05.
Santiment interpreted the divergence between growing wallet counts and falling prices as a sign of accumulation, suggesting that larger holders were adding to positions during the decline. "When larger holders keep appearing during a selloff, it suggests some higher-capital traders are using the fear to build positions instead of abandoning XRP," the firm stated.
Other Wallet Metrics
A separate measure showed additional growth among larger holders. Santiment counted 2,147 wallets holding at least 1 million XRP on November 3, marking the category's highest tally of the year. Broader address creation also strengthened in early November, with 7,934 new XRP wallets created on November 1, the sixth-highest daily total of the year.
Price Levels and Trading Signals
Santiment identified $1.00 as a key XRP price level to defend. On November 11, XRP traded at $1.06, having swung between $1.05 and $1.08 over the previous 24 hours.
The firm tied a potential recovery toward $1.10–$1.15 to three conditions: XRP holding the $1 level, continued growth in wallets holding at least 10,000 tokens, and bitcoin stabilizing. A loss of $1 alongside a reversal in wallet growth would likely trigger a short-term sell-off, Santiment assessed.
Caveats on Wallet Data
Santiment's holder-distribution methodology counts addresses by token balance. The firm noted that wallet counts reflect address creation and balance movements rather than purchase volume alone. Exchanges and custody providers can use shared addresses with destination tags to represent multiple customer holdings, and transfers into self-custody can redistribute balances without representing new purchases.
