XRP Whale Wallet Growth: A Sign of Investor Confidence?
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Expansion of Millionaire XRP Wallets Observed
According to a recent analysis by the on-chain analytics firm, Santiment, there has been a notable increase in the number of substantial XRP wallets over the past month. This observation is derived from the ‘Supply Distribution’ metric, which provides insights into the number of addresses within specific coin ranges.
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Focusing on wallets containing at least 1 million XRP tokens, currently valued at approximately $1.87 million, the data reveals a shift in investor behavior. These investors, often referred to as whales, represent a significant portion of the market.
Historically, between October and December, there was a decline in the number of these millionaire wallets, as depicted in the Supply Distribution chart below. This trend coincided with a broader bearish sentiment across the cryptocurrency sector, resulting in the departure of 784 millionaire wallets from the XRP network.
Recent Trends in XRP Whale Wallets
Since January, however, there has been a positive reversal. Despite XRP’s price experiencing a slight 4% decrease since the beginning of 2026, the number of ‘millionaire’ wallets has started to climb for the first time since September, as per Santiment’s analysis.
As of now, the increase in addresses holding over 1 million tokens has been modest, with an addition of just 42 wallets of this size. Nevertheless, this halt in the outflow of large investors could indicate renewed confidence in the network.
Comparison with Dogecoin’s Whale Activity
Conversely, the Dogecoin network has experienced a stark decline in whale activity. Analyst Ali Martinez, referencing Santiment’s data, highlighted a dramatic 94.6% drop in whale transactions for the memecoin over recent weeks.
The graph below illustrates this decline, showing a decrease from 109 whale-sized transactions to just 6, suggesting a shift in focus away from Dogecoin by large investors.
This trend may reflect a cautious approach by major investors amid ongoing market uncertainties.
Current XRP Price Analysis
As of now, XRP is trading at roughly $1.87, marking a 22% decrease from its peak in early January.
The recent price trajectory indicates a downturn in value over the past weeks, as shown in the following chart.
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