XRP Large Wallets Control 46.87 Billion Tokens

Wallets holding at least 10 million XRP control a total of 46.87 billion tokens, which corresponds to approximately 68.5% of the circulating supply. According to Santiment's data, this ratio has reached its highest level since November 2022. While the XRP price is trading around $1.30, it has been observed that large investors are increasing their positions. However, it is noted that small investors remain cautious. Santiment assesses that the accumulation in large wallets could create a favorable ground for price recovery if selling pressure decreases. Additionally, the open position size in XRP futures stands at $2.96 billion. In the last 24 hours, the futures trading volume was recorded at $2.22 billion, while the spot trading volume was $387.42 million. The fact that the futures trading volume is nearly six times that of the spot market indicates that leveraged trading continues to have an impact on the XRP market. In the last 24 hours, approximately $1.26 million worth of liquidations occurred in XRP futures.

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