Whales now control 68.5% of $XRP supply - highest since 2022.
But here's the thing: concentration ≠ bullish by default.
This could mean accumulation... or it could mean supply is getting locked up in fewer hands, making price action more dependent on their next move.
Price isn't confirming the narrative yet. Until we see stronger momentum backing this onchain data, I'm staying cautious.
Concentration without follow-through = risk, not alpha.
But here's the thing: concentration ≠ bullish by default.
This could mean accumulation... or it could mean supply is getting locked up in fewer hands, making price action more dependent on their next move.
Price isn't confirming the narrative yet. Until we see stronger momentum backing this onchain data, I'm staying cautious.
Concentration without follow-through = risk, not alpha.