The population of XRP wallets holding one million tokens or more expanded by 32 addresses over the period, according to BlockchainReporter. The growth occurred while the broader XRP market lost significant value, a divergence that has drawn attention from analysts tracking on-chain holder behavior.
BlockchainReporter reported that XRP’s market capitalization declined 29% during the window in which the large-wallet cohort grew. Bitcoin.com News described the same 29% drop in terms of token price rather than total market value. The two framings point to the same underlying market weakness, even if they measure it differently.
Wallet cohort data of this kind is often used as a proxy for accumulation behavior among larger holders. When addresses crossing the one-million-token threshold increase during a price decline, it can suggest that some holders view falling prices as an opportunity to add to positions. It does not, however, indicate the identity of those wallets or their trading intentions.
The million-XRP tier represents a relatively high bar for individual holders, given XRP’s circulating supply and price history. Movement in and out of this cohort is closely watched because changes at that scale can reflect institutional activity, exchange custody shifts, or coordinated accumulation, rather than purely retail behavior.
The reported divergence between wallet growth and price performance does not by itself explain why large holders added to their balances. Possible explanations range from long-term conviction among existing holders to redistribution of tokens previously held in exchange or custodial wallets. Neither source specified the cause behind the wallet count increase.
The three-month decline places XRP alongside broader softness across major tokens during the period, though the sources did not provide comparative figures for other assets. Market participants often view sustained holder accumulation during drawdowns as a signal worth monitoring, without treating it as confirmation of a price bottom or future price direction.
Both outlets framed the wallet growth as notable specifically because it ran counter to the price trend. That contrast, rather than the absolute number of new addresses, is what distinguishes this report from routine holder-count updates that crypto trackers publish regularly.
Sources disagree on this story
This article was published before the reports below were compared. The reporting above stands; what follows is where the published accounts do not agree.
Outlets agree XRP whale wallets and market cap moved in opposite directions, but CoinTurk News EN describes the wallet change as a 32% increase while The Crypto Basic gives absolute figures showing a 1.6% rise.
What all sources agree on
- Wallets holding at least 1 million XRP grew by 32 addresses over the past three months.
- XRP's market capitalization fell by approximately 29% over the same period.
- The data comes from Santiment.
- XRP traded near $1.01-$1.02 at time of publication, having fallen below $1 for the first time in 2026.
Where the reports disagree
1Whether the 32-address change represents a 32% increase or a much smaller percentage increase
the number of wallets holding at least 1 million XRP has increased by 32%
the number of wallets holding 1 million or more XRP has risen from around 2,006 to 2,038
What would settle it: Santiment's underlying wallet-count dataset for the 1M+ XRP cohort over the three-month window.
What to make of it
Treat the 32-address wallet increase and 29% market cap decline as established across sources; do not rely on CoinTurk News EN's '32%' figure, which conflicts with the absolute wallet counts (2,006 to 2,038) reported elsewhere.
Market Impact
An increase in large XRP wallets during a price decline may be read by some market participants as a sign of holder confidence, though it carries no guarantee of future price behavior. Analysts typically weigh such on-chain data alongside trading volume, exchange flows, and broader market sentiment before drawing conclusions about supply dynamics.
For XRP specifically, sustained interest from large holders during weak price action could reduce near-term selling pressure if those tokens remain off exchanges. Any renewed volatility, positive or negative, would still depend on factors beyond wallet counts, including broader crypto market conditions and any token-specific news.
The rise in million-XRP wallets alongside a steep price and market-cap decline highlights a notable divergence in holder behavior, though its longer-term significance remains unclear without further data.
Frequently Asked Questions
What does a 'million-XRP wallet' mean?
It refers to a blockchain address holding at least one million XRP tokens, a threshold used to track large or high-net-worth holders.
Did XRP's price or its market capitalization fall 29%?
Sources differ slightly: BlockchainReporter cited a 29% drop in market capitalization, while Bitcoin.com News described a 29% decline in token price, both over roughly a three-month period.
Does more large-wallet accumulation mean XRP's price will recover?
Not necessarily. Wallet growth can reflect accumulation, but it does not guarantee future price movement and should be viewed alongside other market indicators.
Why do analysts track large wallet cohorts like this?
Changes in high-balance wallet counts can indicate shifts in holder conviction, institutional activity, or movement of tokens out of exchange custody, offering context beyond price charts alone.