The number of wallets holding at least 1 million XRP has been gradually increasing since the start of the new year, according to crypto analytics platform Santiment. This comes despite the asset’s price falling by 4% in 2026 as it remains under pressure at key technical levels.
Crypto traders often track large-holder accumulation, using the gauge as a signal to understand where the asset’s price could head in the future.
XRP Wallets Holding $1M+ Grow Again, Total Reaches 2,106
In an X post, Santiment said that XRP has posted a modest decline so far this year but is seeing a notable shift in wallet distribution, as the number of “millionaire” wallets has risen for the first time since September 2025.
The blockchain analytics firm noted that 42 more wallets holding over a million XRP had been added to the XRPL blockchain since January 1, bringing the total to 2,106. They highlighted this as an “encouraging sign” for improving long-term confidence in the token. The data suggests that large whales are increasing their exposure to XRP despite the lack of a sustained price recovery.
However, the previous quarter had seen a sharp reversal, wth 784 millionaire XRP wallets disappearing between October and December. This underscores how notable the latest rebound has been.
Meanwhile, data from Nansen shows that XRP accumulation by “smart money” traders – a cohort deemed the most consistently successful traders in the industry by returns – has risen 11.55% over the past 30 days.
Rising numbers of high-balance wallets often signal growing confidence among long-term holders or indicate strategic positioning ahead of a potential trend shift. However, whale accumulation alone does not guarantee an imminent rally, particularly when broader market sentiment remains unfavorable.
Money Flows to XRP ETFs as Bitcoin ETFs Record January Outflows
The good news for XRP does not stop there. The U.S.-listed spot XRP exchange-traded funds (ETFs) registered a net inflow of $91.72 million this month. According to data from SoSoValue, the funds trading on Wall Street attracted $666 million and $499 million in investors’ funds in November and December, respectively.
This is in sharp contrast to spot Bitcoin ETFs, which have seen $278 million in outflows this month, and over $4 billion in redemptions over the final two months of 2025.
Analysts Clash on XRP Recovery, Citing Long-Term Strategy vs Short-Term Risk
While some analysts remain optimistic that XRP could attempt a move higher if selling pressure continues to ease, others remain skeptical about its near-term outlook.
Crypto analyst ‘CW’ noted in an X post that the token appears close to overcoming a key resistance level and could break through the “selling wall” soon, as net buying remains strong and the trend is reversing. However, this projection depends on XRP clearing overhead supply zones that have previously capped recovery attempts.
XRP has failed to reclaim its 50-day moving average this month, with rallies repeatedly ending near the $2 handle. This suggests larger holders may be positioning for a longer-term thesis rather than chasing near-term momentum. The divergence between rising larger-holder balances and steady ETF inflows alongside weak price action hints at quiet accumulation rather than speculative froth. Historically, similar setups for XRP have preceded periods of consolidation before sharper moves, though the timing has varied widely.
However, not all whale activity has been hopeful for XRP’s price. On-chain data shows that wallets holding between 100 million and 1 billion XRP were the primary drivers of larger-scale sell-offs, offloading around $800 million worth of tokens.
For the time being, XRP appears caught between longer-term positioning and short-term risk aversion, and without a broader uptick in crypto market momentum, particularly for BTC and ETH, the token may struggle to convert improving fundamentals into sustained price upside.
At the time of writing, XRP is trading at $1.86 – down 2.83% in 24 hours.
