The number of XRP wallets holding more than 1 million tokens has been steadily climbing since the start of the year—even as the token’s price has edged slightly lower. Analysts say the trend could be an early sign that long-term confidence is returning among large holders.
Despite XRP being down around 4% since the beginning of 2026, on-chain data from Santiment shows that so-called “millionaire” wallets have started to grow again after months of decline. In fact, Santiment says this is the first sustained increase in large XRP holders since September.
Big-wallet behavior is closely watched in crypto markets, as accumulation by wealthy investors is often seen as a vote of confidence in an asset’s longer-term prospects.
According to Santiment, 42 new wallets holding at least 1 million XRP have returned since January 1, reversing part of a sharp pullback seen late last year. Between October and December, a massive 784 millionaire wallets exited, making the recent rebound stand out even more.
At current prices, joining the XRP millionaire club isn’t cheap. With XRP trading around $1.87, holding 1 million tokens puts a wallet’s value at roughly $1.87 million, based on CoinMarketCap data.
Santiment described the renewed accumulation as an “encouraging sign for the long term,” especially given the market’s generally cautious mood.
Other on-chain signals appear to back that up. Data from Nansen shows that XRP holdings among so-called “smart money” wallets—accounts linked to consistently profitable traders—have increased by 11.55% over the past 30 days.
That said, opinions on XRP’s near-term price direction remain mixed.
Crypto trader CW said on X that XRP may be nearing a breakout above a major resistance level, suggesting that continued buying pressure could push the price toward $2.30 if sellers give way. XRP is up about 1.3% over the past month, according to CoinMarketCap.
Zooming out, asset manager 21Shares recently pointed to XRP’s history of long consolidation periods followed by sharp rallies, arguing that improving regulatory clarity and rising institutional interest could position the asset well for future gains.
Still, some analysts are urging caution. Swyftx lead analyst Pav Hundal warned that XRP’s upside risks becoming too dependent on narrative, noting that unexpected developments around the US CLARITY Act could weigh on prices in the short term.
Beyond XRP, the broader altcoin market remains under pressure. The CoinMarketCap Altcoin Season Index currently sits at 31 out of 100, indicating that Bitcoin has outperformed most major altcoins over the past 90 days. Meanwhile, the Crypto Fear & Greed Index remains in “Fear” territory at 26, underscoring investors’ ongoing caution across the market.
