In recent days, Ripple’s XRP has experienced significant price volatility, declining from $1.34 to $1.15. While small investors have shown caution during this period, data suggest that large wallet holders, often referred to as “whales”, have been actively purchasing the token.
Whale Purchases Steal the Spotlight
Crypto analyst Ali Martinez, citing data from Santiment, revealed that substantial investors have accumulated over 16.46 million XRP during a five-day price drop. Santiment, known for its blockchain-based market analysis, provides insight into these trends.
Ali Martinez noted, “As the price receded, whales have been buying and collected over 16.46 million XRP in the last five days.”
The data indicates that the total amount of XRP held by whale wallets increased from approximately 6.32 billion to 6.35 billion from November 4 to November 7. This buying trend unfolded as a steady accumulation over several days rather than a single-day surge.
Election-Induced Uncertainty Intensifies Selling Pressure
The price pullback accelerated following the U.S. midterm elections held on November 3. The Democratic Party’s enhanced control over Congress has sparked concerns over potential regulatory impacts on the cryptocurrency market, thereby augmenting the pressure on an already weak XRP.
XRP had already suffered a 16% value drop in October, beginning November below $1.50. The asset’s vulnerability grew in the wake of election results. The stalled progress of the CLARITY Act, aimed at providing a clearer regulatory framework for digital assets, further deepened the uncertainty. At the time of reporting, XRP is trading at $1.16, reflecting a 7.52% decline over the past week.
Increase in Large Wallet Numbers
The data also points to an increase not only in existing whale acquisitions but also in new large investors entering the market. The number of wallets holding at least 1 million XRP has reached the highest level since 2026. Within ten days, 28 new large wallets emerged, with whale holdings jumping from 2.35 billion to 2.63 billion XRP between November 3 and November 5.
The movement of tokens from exchanges to custody wallets supports the trend toward holding rather than short-term selling.
Threshold Monitored for Recovery Hopes
XRP is struggling to regain the $1.30 level lost before the elections. A resurgence past this marker could signify a shift in price momentum. Nonetheless, experts caution that whale purchases alone do not guarantee a swift recovery.
“Large investors buying during declines might perceive value at current levels; however, this does not guarantee a quick price rise,” stressed Ali Martinez.
Still, data reveal that larger, more experienced market participants are closely evaluating the current price range. Despite short-term pressure, this dynamic helps sustain optimism about strengthening XRP’s support base.
