Wallets holding at least 10 million XRP control 68.5% of the token's supply, according to on-chain analytics platform Santiment. This marks the highest concentration of large holders since November 2022.
The metric tracks three tiers of whale wallets: those holding 10 million to 100 million XRP, 100 million to 1 billion XRP, and more than 1 billion XRP. The smallest whale tier saw a decline of 12 wallets, falling from 351 to 339 holders. The data does not indicate whether these holders sold their positions, split balances across addresses, or moved into larger tiers.
Exchange inflows have also increased, with approximately 47 million XRP flowing onto trading platforms, valued at roughly $61 million at current prices. XRP has been trading near $1.29, with $1.26 identified as a key support level and $1.11 as the next potential level of interest.
XRP's total supply is fixed at 100 billion tokens with no new minting. As of October 26, 2026, approximately 68.59 billion XRP was in circulation, with about 31.4 billion XRP locked in Ripple's on-chain escrow and released on a scheduled basis.
Whale concentration has historically risen during periods of market uncertainty. The previous peak in November 2022 occurred during a challenging period for crypto sentiment. Large holders have also been noted to take defensive positions during volatile trading conditions, such as during the SEC litigation against Ripple.
The resurgence in whale holdings raises questions about decentralization, with critics pointing to Ripple's escrow holdings and concentrated ownership as evidence of top-heavy token distribution. Larger investors may monitor the two largest whale tiers to assess whether the biggest players are accumulating, maintaining positions, or reducing their exposure.
