350 million XRP moved between December 6–10, 2025 as larger holders absorbed supply while mid-tier wallets sold into weakness. During this span, XRP traded within a narrow $2.02–$2.20 range, underscoring a redistribution of supply.
On-chain records indicate mid-sized whales — defined as wallets holding 1 million to 10 million XRP — offloaded more than 330 million XRP over the four-day span, a pattern consistent with reactive selling during a price pullback. At the same time, wallets classified as large whales (10 million–100 million XRP) accumulated roughly 350 million XRP, a position valued at over $729 million while the token remained range-bound between $2.02 and $2.20. This active accumulation by the largest holders coincided with a reported decline in general network engagement.
Data from linked reporting note that the concentration of supply into fewer wallets was accompanied by falling active addresses on the XRP Ledger, down to a three-month low of 37,088. Reduced daily participation can signal waning retail engagement and leaves price support increasingly reliant on the strategic actions of large holders rather than broad on-chain demand.
350 Million XRP moved as mid-tier sellers and large whales diverged
The absorption of circulating supply by a smaller number of whales reduces available liquidity in practice and raises concentration risk; fewer wallets with outsized holdings can amplify volatility if they reverse course. Analysts referenced in recent coverage highlighted that such concentration can act as a short-term floor but also creates the potential for outsized moves should major holders distribute supply. High-leverage positions noted in market commentary add a further layer of risk if price swings trigger forced liquidations.
Technical and macro narratives intersect in observers’ projections: some analysts cited in reporting see potential for rallies to $3 or even $5 by Q4 2025 if institutional flows and broader market conditions improve. Institutional context includes the November 2025 launch of four spot XRP ETFs, which had been projected in coverage to attract $600–$800 million of inflows in Q1 following their launch. The XRP Ledger’s protocol characteristics — described as supporting high throughput (1,500 transactions per second) and low fees — remain part of bullish case studies, even as on-chain activity metrics show a mixed picture.
The 350 million XRP transfer episode reflects larger holders consolidating supply amid lower retail activity, increasing concentration and potential volatility.
