XRP wallets holding 1m-10m tokens add 70m coins as Binance reserves hit 6-month low
On-chain data shows mid-tier XRP wallets accumulating while exchange reserves thin, a pattern institutional desks watch closely.
On-chain analytics firm Santiment has recorded a fresh divergence in XRP holder behaviour, with wallets holding between 1 million and 10 million tokens adding roughly 70 million XRP even as smaller retail addresses reduce their positions. The shift coincides with Binance’s XRP reserves falling to their lowest level in six months, a combination that market analysts typically read as a sign of tightening exchange-side liquidity.
Reading the wallet data
Santiment’s segmentation of XRP addresses by balance size is a widely used proxy for distinguishing institutional or high-net-worth positioning from retail activity. The cohort in question — wallets holding between 1 million and 10 million XRP — sits below the very largest custodial and exchange addresses but well above typical retail holdings, making it a commonly cited indicator of mid-tier accumulation.
The addition of 70 million tokens to this bracket, set against declining balances among smaller holders, points to a redistribution of supply rather than a simple net inflow of new capital. Such patterns have previously preceded periods of reduced sell pressure, though on-chain accumulation alone does not determine subsequent price action.
Exchange reserves under pressure
The parallel decline in Binance’s XRP reserves to a six-month low is notable because exchange balances are often used as a rough gauge of readily available sell-side supply. Falling reserves can reflect tokens moving into self-custody or cold storage, a behaviour more consistent with longer-term positioning than short-term trading.
For institutional observers, the combination of thinning exchange supply and mid-tier wallet accumulation is one of several metrics used to assess whether an asset’s liquidity profile is shifting ahead of potential volatility. It does not, however, provide a reliable signal of direction, and analysts caution against treating on-chain flows as a standalone trading indicator.
Context for a scrutinised asset
XRP has remained under close market and regulatory attention following the protracted litigation between Ripple Labs and the US Securities and Exchange Commission, which shaped much of the token’s trading history over recent years. With that overhang largely resolved, attention has increasingly turned to structural metrics such as exchange reserves and holder distribution as investors reassess the asset’s liquidity and ownership base.
Whether the current accumulation by mid-sized wallets marks a durable change in XRP’s holder composition, or a temporary rebalancing, will likely only become clear over subsequent weeks as further on-chain data is published.
