XRP Whale Wallets Decline as $61M Reaches Exchanges
XRP traded near $1.29 on October 26, down about 17% over the previous month, as whale wallet numbers fell and exchange-associated balances grew. Analyst Ali Martinez said wallets holding 10 million to 100 million XRP dropped from 351 to 339. Exchange balances in his dataset rose by about 47 million XRP, worth roughly $61 million at the reference price. These changes may signal selling pressure, but wallet movements and exchange balances do not prove that tokens were sold.
For XRP traders, $1.26 is the key support level. A sustained break below it could put $1.11 and then $0.98 in view; holding support and reclaiming $1.40 could support a recovery towards $1.50. US spot XRP ETFs drew about $4.3 million in net investment during the October 19–23 week, but recorded no inflows on October 23. Meanwhile, the XRP Ledger reached a record 8.24 million funded wallets. Whale activity, ETF flows and price action around $1.26 are key indicators to watch.
Bearish
The reported decline in large-holder wallets and the roughly 47 million XRP increase in exchange-associated balances are potential near-term bearish signals. Traders often interpret rising exchange balances as a sign that holders may be preparing to sell, while falling whale counts can suggest reduced concentration among large holders. However, neither metric confirms a sale: assets may be transferred, split across wallets or moved into a different holding-size category.
The most actionable indicator is the $1.26 support level identified by Martinez. A confirmed break could prompt stop-losses and momentum-driven selling, with $1.11 and $0.98 cited as possible downside levels. Conversely, a hold above support followed by a move back above $1.40 would weaken the bearish case and could support a recovery towards $1.50. This pattern is consistent with past crypto market reactions in which exchange-flow and whale data heighten volatility, but price confirmation determines whether selling pressure persists.
ETF demand offers a mixed signal: weekly inflows recovered to about $4.3 million, but there were no net inflows on October 23. The XRP Ledger’s record 8.24 million funded wallets indicate broader network participation, though wallet growth does not necessarily create immediate token demand. Ripple’s Swell conference and scheduled escrow release may influence sentiment, but neither guarantees additional XRP buying or selling. Overall, the data tilt bearish in the short term, while longer-term direction depends on sustained support, ETF flows and whether exchange balances translate into actual selling.