XRP broke through the $1.28 level on Monday with a 13% rise in one day, reclaiming a price area not seen in two weeks. The move came alongside a broad rally in altcoins following reports that the US and Iran had reached a resolution, taking away the geopolitical weight that had been pressuring risk assets. Santiment update on the series The bounce was framed not just as a major bounce, but as a move that was fueled by months of heavy accumulation among the largest XRP portfolios.
On-chain data shows that addresses with at least 1 million XRP now control 74.1% of the total token supply. Over the past six months, this group has added 1.53 billion XRP to their balances, absorbing a massive amount of floating supply even as sentiment fell to its lowest levels of the year. When fear finally subsided with the de-escalation headline, the supply available for sale was already tight, creating the conditions for a strong surge in relief.
Accumulation by wallets containing 1 million+ XRP tightens the market structure
Concentration data is important because it changes the liquidity profile of the market. With roughly three-quarters of the supply of XRP sitting in wallets that have historically been slowly distributed, even modest renewed demand could push prices higher faster than many traders expect. The buildup to the low of sentiment in 2026 suggests that those with deep pockets treated the downturn as a buying opportunity, not a reason to exit. The six-month accumulation of 1.53 billion XRP is one of the most consistent signals of whale-class conviction seen this year.
When macro policy was put into effect, those who were quietly building their positions were rewarded. The price action then forced sideways capital to chase, increasing the strength of the intraday move. The question now is whether millionaire portfolios will continue to increase, or if some of them will begin to decline. Santiment chart Keep track of this group’s holdings It will be one of the most watched metrics in the coming sessions.
Institutional drivers: The payment and tokenization network add structural support
Beyond the immediate supply dynamic, XRP continues to benefit from two long-term narratives. Ripple’s institutional payment network continues to expand, and tokenization initiatives on the XRP Ledger are starting to attract attention from outside the retail speculative crowd. Both factors helped hold the line during declining sentiment, giving large holders a reason to continue accumulating rather than reduce exposure. In an environment where the macro backend can pivot quickly, assets with real-world use cases and cross-chain liabilities from their long-term holders tend to recover faster than purely speculative tokens.
The sudden calming removed the immediate headwinds, but the structural accretion pattern was already in place. This combination – improving macro conditions plus months of stealth buying – is what led to the rapid breakout of XRP. Market participants now face a simpler set of questions: whether large portfolios will continue to buy, whether the decision is holding, and whether profit-taking is intensifying at key levels. For now, the balance is in the hands of the whales, which have shown no signs of loosening their grip.
