[DigitalToday reporter Jinju Hong (홍진주)] Blockchain media outlet U.Today reported on Oct. 27 that large XRP holders have tightened their grip on supply to the highest level since November 2022.

The combined holdings of wallets holding at least 10 million XRP totaled 46.87 billion XRP. That amounts to about 68.5 percent of total XRP supply. Based on Santiment intelligence data, the share held by whale wallets has expanded to its highest level since November 2022. Large holders continue to increase their XRP exposure even as market volatility has risen recently.

Markets view the trend as a short-term bullish signal. That is because whale wallets have continued accumulating despite weak market conditions and a prolonged price correction. The outlet said, "Whales are leaning increasingly bullish on XRP despite recent market volatility." Large-wallet balances rose even as XRP traded around $1.29.

Still, it is not confirmed whether the move reflects buying for long-term investment purposes or preparation to sell at higher prices. U.Today also noted that it does not specifically show whether large investors are buying to hold for the long term or preparing to sell at higher prices. Even so, some interpret it as a favorable signal for XRP in the short term.

Attention is shifting to the price reaction. XRP is moving around $1.30, and market participants are watching whether continued whale accumulation can absorb selling pressure. Some market analysts believe strong buying by whales could absorb selling pressure and lift XRP above $1.50.

Against this backdrop, the possibility of a short-term rebound in XRP is also being highlighted again. Whether the increased whale holding share leads to an actual price recovery is expected to hinge on whether further accumulation continues and whether overall market volatility eases. For now, the increase in large-holder balances is being seen as the most noticeable signal in the XRP market.