XRP whale cohorts are making some interesting moves. Addresses holding between 10 million and 100 million tokens have been executing the largest buy-in increases in the past few months. Since October 2025, they’ve accumulated 3.17 billion tokens, and they currently hold more than 17% of XRP’s circulating supply. Historically, this appears to be the largest share.

What’s interesting is that this massive buying was mainly concentrated in November 2025. In particular, from mid to late November, in just 20 days they bought close to 2.49 billion XRP. During that period, XRP dropped by 50%, so it’s a clear “buying at a low” move. According to Santiment data, these whales had only 12.21% of the circulating supply as of October 2025, but now that figure has risen to 17.04%.

Meanwhile, addresses in the 1 million to 10 million token range are doing the opposite—pushing forward with sell-offs, handing over more than 2.8 billion XRP in November alone. That suggests capital may be concentrating into larger holders. XRP has fallen from its historical high of $3.65 to $1.44, but this is exactly the kind of time when whales tend to move.