XRP Whales Buy The Dip While Price Goes Nowhere

The number of XRP wallets holding at least one million tokens has increased for the first time since September, a shift that stands out against an otherwise quiet start to 2026 for the asset.

On-chain data, shared by prominent blockchain and cryptocurrency industry monitoring platform Santiment in an X post on January 28, shows that 42 new “millionaire” wallets have appeared on the XRP Ledger (XRPL) since the beginning of January.

During the same period, XRP’s price is down roughly 4%, stressing a growing disconnect between short-term price action and long-positioning by large holders. Currently, XRP is trading at $1.87, down 2.6% on the day, declining 4.5% over the week, but advancing 0.6% across the past month.

*XRP price 30-day chart. Source:* *CoinGecko*

Large Holders Add As Price Stagnates

The rise in high-balance wallets follows a steady decline that stretched from early October through the end of 2025. Over that period, hundreds of large XRP wallets reduced exposure or exited entirely as price momentum faded.

That trend has now reversed, even though XRP has yet to show a decisive breakout. Historically, similar phases of accumulation by large holders have tended to occur during periods of low volatility rather than during rallies.

Smaller wallets, by contrast, have shown little change in behavior, suggesting that recent accumulation is being driven primarily by high-net-worth holders rather than broad retail participation.

🐳🦈 XRP's price is down a modest -4% since the start of 2026, but its amount of 'millionaire' wallets are rising for the first time since September. A net of +42 wallets with at least 1M $XRP have returned to the ledger, an encouraging sign for the long-term. pic.twitter.com/nmB4hCxtZO

— Santiment (@santimentfeed) January 28, 2026

Why Millionaire Wallets Matter

Wallets holding at least one million XRP represent a relatively small share of total addresses, but they control a significant portion of the circulating supply. Changes in this group often reflect longer-term conviction rather than short-term trading.

Previous increases in millionaire wallet counts have coincided with extended consolidation phases, not market tops. Though that pattern doesn’t guarantee upside, it does suggest that larger participants may be positioning ahead of future developments rather than reacting to current price movement.

XRP remains one of the most liquid assets in the crypto market, with growing attention around exchange-traded fund (ETF) products and ongoing institutional interest in cross-border payment infrastructure.

For now, price action remains muted. But the return of large holders after months of distribution marks a notable shift in on-chain behavior, one that tends to emerge before momentum as opposed to after it.