The number of wallets holding a minimum of 1 million XRP tokens has reached a record-breaking high, coinciding with a substantial 26% surge in price over the last week.
Key Highlights:
The total counts of wallets with at least 1 million XRP have soared to 2,743.
These XRP whale wallets control over 47.32 billion tokens, mirroring the cryptocurrency’s aggressive price rise.
Analytics platform Santiment has suggested that this trend could signal the dawn of an altcoin season.
According to Santiment’s report released on Friday, the accumulation of such “whale” wallets indicates a strong trend in market investment.
The platform emphasized that not only is there an increase in the number of whales, but the overall XRP supply held by these wallets is also on the rise—a bullish signal for XRP, which ranks fourth in market capitalization.
Significant Control by XRP Whales
Data reveals that wallets containing 1 million XRP or more collectively dominate the market with more than 47.32 billion tokens.
At the time of the report, XRP’s price had hit $2.80, following a remarkable 10% increase within 24 hours, as per CoinMarketCap.
This price surge effectively erased around $31.44 million from XRP short positions, according to CoinGlass data.
Just one month prior, XRP had been oscillating between $1.90 and $2.90 for close to 200 days, leaving traders uncertain about its next trajectory.
The recent uptrend aligns with broader market movements, which have seen Bitcoin achieve successive all-time highs—$112,000 on Wednesday, $116,500 on Thursday, and $118,780 on Friday.
Ethereum also experienced significant gains, climbing over 17% throughout the week, with trading hovering near $2,960.
Santiment interprets this robust performance across a range of cryptocurrencies as indicative of a potential altcoin season.
The platform noted, “The data confirms that, for now, it has.”
Furthermore, as Bitcoin maintains ground above the crucial support level of $110,000, it is likely that investors will continue reallocating profits into altcoins such as XRP, propelling further market momentum.
XRP has surged to a peak of $2.97 today, reaching a 4-month high alongside a dramatic increase in new wallet creation and retail interest on social media.
Track these metrics any time on this chart: https://t.co/pk1BSHPO8G pic.twitter.com/AD8sUSUfu6
— Santiment (@santimentfeed) July 11, 2025
Last month, Ripple CEO Brad Garlinghouse announced that the company would be withdrawing its cross-appeal against the SEC, with expectations that the regulator would also retract its appeal.
This announcement followed a decision from a U.S. district court which denied a joint plea from Ripple and the SEC to diminish Ripple’s $125 million civil penalty and overturn the ruling that categorized Ripple’s institutional XRP sales as securities transactions.
In her ruling, Judge Analisa Torres highlighted Ripple’s intention to “push the boundaries” of the initial summary judgment, suggesting potential risks for future violations.
New XRP Ledger Upgrade Launched Amid Growing Interest
Meanwhile, it has been reported that RippleX, the development branch of Ripple, has launched version 2.5.0 of the XRP Ledger, introducing various protocol enhancements aimed at improving both functionality and security.
RippleX engineer Mayukha Vadari described the upgrade as “possibly the best single lineup of amendments” ever introduced, marking significant advancements in token management and transaction processing.
The XLS-85 amendment revamps the escrow system, accommodating third-party tokens, including stablecoins, while also introducing versatile tokens tailored for institutional uses.
This update follows a period of increased user activity on the XRP Ledger, which has seen daily active addresses rise from an average of 35,000 to over 295,000.
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