Most people focus on price fluctuations but overlook the most critical factor—the supply.

In this market, investors are busy analyzing candlestick charts, chasing hot trends, and following market sentiment. But the true force that can determine the trend is often ignored. Did you know? The number of wallets holding at least 10,000 XRP has hit a new high in the 12-year history of this coin.

What does this mean? Let’s break it down.

By the end of 2025, the number of wallets holding at least 10,000 XRP will reach 317,500. Don’t underestimate this number—10,000 XRP at the current price of about $2 is a starting point of $20,000. This threshold effectively excludes most retail investors.

But even more striking is this data: the top 100 wallets control over 70% of the XRP supply. How exaggerated is this concentration? You can imagine.

Such a situation is not new in the crypto market, but the degree of concentration in XRP is truly shocking. When most of the coins are held by a few whales, the market’s fragility is amplified. What happens if these large holders move? On-chain data will tell you the answer first.

This is not just a numbers game. It reflects the real distribution of supply in the market, which determines the potential direction of future shocks.