XRP, the digital asset associated with Ripple, remains under significant price pressure. As of now, XRP is trading near $1.277, considerably below its all-time high of $3.65. Despite the persistent low prices, on-chain developments signal noteworthy changes in the asset’s ownership landscape.
Whale wallets surge to 2026 peak
Recent data from the blockchain analytics firm Santiment reveals that 2,147 wallets currently hold at least 1 million XRP tokens, marking the highest tally recorded in 2026 and surpassing the previous peak from December 2025. Within the latest 10-day period, the number of these large wallets increased by 28, with 18 new additions in just the last three days of that timeframe.
X Finance Bull, a known crypto commentator, highlighted this development by sharing the new data and describing the trend as a divergence between retail and larger investors. In a statement, X Finance Bull said that while retail investors are showing signs of concern, institutional players appear to be increasing their positions.
The growing number of high-balance wallets shows that while retail is panicking, large holders are steadily accumulating XRP, potentially indicating institutional positioning during a period of price weakness.
Large holders accumulate during weak price action
The timing of this accumulation is significant. Santiment’s data indicates that the number of wallets holding more than 1 million XRP declined throughout most of 2025 and 2026 before reversing course. The recent surge to new highs in whale wallets comes while XRP’s price struggles to gain momentum, suggesting deliberate accumulation rather than speculative buying.
Historically, the previous peak in 1M+ XRP wallets was recorded around September 2025, when XRP traded between $1.60 and $1.70. After that, the asset’s price slipped while the number of large wallets fell, with a recovery in wallet counts now preceding any notable price rebound.
| Date | 1M+ Wallet Count | XRP Price |
|---|---|---|
| September 2025 | Peak (exact number undisclosed) | $1.60–$1.70 |
| December 2025 | Previous high | N/A |
| November 2026 | 2,147 | $1.277 |
Profile of the new large holders
According to X Finance Bull, a significant position of 1 million XRP currently equates to roughly $1.28 million. This level of exposure is uncommon for retail holders, further suggesting that the recent increase likely reflects institutions, funds, or individuals with substantial capital entering or consolidating their XRP portfolios.
Santiment, while comprehensive in on-chain wallet analysis, does not disclose the identities behind the wallets or their entity types. This leaves room for speculation regarding the true profile of these large holders, though the growth strongly points to accumulation by players with sizable resources.
Mini dictionary: Santiment — a blockchain analytics platform that tracks on-chain data such as wallet holdings, transaction activity, and network metrics to provide insights on cryptocurrency markets.
Implications for XRP market dynamics
On-chain metrics and price performance are moving in opposite directions for XRP. Even as the market price remains low and smaller investors reduce their exposure, entities holding more than $1.28 million in XRP are rising in number, indicating a potential transfer of supply from retail to larger-scale investors.
Whether or not this trend will result in price recovery depends on broader market conditions, liquidity, and demand. Nevertheless, the accumulation by major holders is clear and quantifiable, offering a critical signal to market participants monitoring shifts in XRP’s investor landscape.
Retail traders are reducing their positions or staying on the sidelines, while large wallets steadily increase, highlighting a shift in XRP ownership during the current downturn.
