$XRP Hodler Accumulation Reaches a One-Month High
Glassnode’s $XRP Holder Net Position Change tracks the 30-day net change in the amount of $XRP held by long-term wallets.
When the reading rises, it indicates that these holders are adding more $XRP than they are selling or moving out of their wallets. On the other hand, a falling reading suggests that long-term holders are reducing their positions and returning coins to circulation.
The latest increase is noteworthy because $XRP has struggled to regain upward momentum. On Oct. 26, the metric reached 189,903,498 $XRP, its highest reading in a month.
This marked a massive recovery from the low of just 1,052,427 $XRP recorded on Oct. 13. The change suggests that long-term holders have started adding to their positions again while $XRP continues to trade below $1.30.
$XRP Hodler Net Position Recovers from October Lows
The metric’s recent movements show how long-term holder activity has changed over the past few months.
Following $XRP’s mid-August rally, the $XRP Holder Net Position Change reached 276 million $XRP on Aug. 8, indicating strong accumulation at the time. However, the reading later fell to 220 million $XRP by Aug. 27 before recovering to 232 million $XRP on Sept. 13.
The recovery did not last. Starting on Sept. 13, the metric fell, dropping from 232 million $XRP to 190 million $XRP in a single day. The decline continued throughout the rest of September and into October, eventually bringing the reading close to zero.
On Oct. 13, the metric reached a low of 1,052,427 $XRP. At that point, long-term holders were showing very little net accumulation or distribution. $XRP traded at $1.37 on the same day, marking a period of weak activity among these investors before the indicator began to recover.
Long-Term Holders Add $XRP as Prices Remain Weak
The Holder Net Position Change began recovering after hitting its Oct. 13 low, even as $XRP’s price continued to fall. By Oct. 17, the metric had climbed to 96 million $XRP, while $XRP traded at $1.30.
The increase then slowed, with the reading staying around 90 million $XRP through Oct. 24. However, accumulation picked up again that day, pushing the metric above 113 million $XRP. It then surged to 188 million $XRP on Oct. 25 before reaching 189.9 million $XRP on Oct. 26.
During this period, $XRP continued to struggle between $1.28 and $1.30, occasionally falling below that range on Oct. 25 and 26. At press time, $XRP currently trades at $1.2921. This shows that long-term holders have been adding $XRP even as the market continues to struggle to push the price higher.
$XRP Hodler Conviction Could Affect Available Supply
In the past, similar $XRP hodler patterns have sometimes appeared before market recoveries. When long-term holders accumulate more $XRP, fewer tokens may remain readily available for sale. If this trend continues, a smaller available supply could help prices rise when buying demand improves.
However, the increase in accumulation does not guarantee an immediate price recovery. $XRP’s continued struggle to stay above $1.30 shows that sellers still have a strong influence on its short-term performance.
