XRP has experienced a price drop of 43% since the start of 2026, yet large wallets lacking public identification have significantly increased their holdings, drawing heightened interest from market analysts about possible accumulation and shifts of XRP off exchanges.
Unlabeled Million-Plus Wallets Increase XRP Holdings
X Finance Bull, a well-followed crypto commentator, reviewed XRP Ledger data and reported that wallets with at least 1 million XRP but no public ownership labels grew their cumulative balances by 2.40 billion XRP between January 1 and November 13, 2026.
On January 1, these wallets controlled a total of 15.84 billion XRP. By November 13, this figure had grown to 18.24 billion XRP, marking a 15.1% increase in holdings over the period.
Checkpoint data showed a steady rise: 15.84 billion XRP in January, 16.33 billion in April, 16.74 billion in July, 17.31 billion in October, and 18.24 billion by November 13. This accumulation occurred as XRP’s price—tracked on Bitstamp—declined from approximately $1.84 to $1.04.
X Finance Bull emphasized that despite a substantial price drop, significant increases in unlabeled wallet balances were recorded, stating that on-chain figures from the XRP Ledger deserve close scrutiny by market participants.
Examining the broader network, wallets holding at least 1 million XRP rose in number from 1,995 to 2,147, with their combined balances climbing from 48.15 billion to 51.01 billion XRP. Of the 152 new wallets, 112 were labeled as exchange addresses, highlighting the need to separate exchange traffic from accumulation by private or institutional investors.
| Date | Unlabeled 1M+ Wallet Holdings (Billion XRP) | XRP Price (Approx.) |
|---|---|---|
| January 1, 2026 | 15.84 | $1.84 |
| April 2026 | 16.33 | – |
| July 2026 | 16.74 | – |
| October 2026 | 17.31 | – |
| November 13, 2026 | 18.24 | $1.04 |
Mini dictionary: XRP Ledger, the underlying distributed ledger for XRP, is a decentralized blockchain that enables fast and low-cost digital asset transfers and tracks account balances on the XRP network.
Largest Unlabeled Wallets Record Significant Growth
Wallets without public ownership labels holding at least 10 million XRP also saw notable growth. Their number increased from 312 to 341 while their total holdings rose from 12.62 billion to 14.83 billion XRP. One individual account grew its balance by 238 million XRP within the year.
X Finance Bull pointed out that most of the new top accumulation addresses started with small balances or were not present at the year’s beginning. Seven out of the ten largest gainers in this group either held fewer than 100,000 XRP at the start of 2026 or were newly created accounts.
Despite these increases, there is no way to directly connect unlabeled wallets to specific institutions or private holders. These could be owned by funds, exchanges, custodians, OTC desks, or businesses, but without wallet tags, their true ownership remains uncertain.
The commentator highlighted that the XRP Ledger cannot disclose the actual owners of these wallets, leaving open questions about whether the activity represents investment accumulation or internal consolidations.
X Finance Bull Responds To Community Frustration
The analysis triggered a response from community member Luciano Tavares, who voiced frustration over years of unmet expectations for XRP’s price action, suggesting that the token’s intrinsic value exceeds its market price.
Addressing this viewpoint, X Finance Bull questioned whether Ripple or the XRPL Foundation ever promised specific price outcomes for XRP, attributing many lofty price predictions to independent voices and not official statements.
He encouraged investors to focus on core technology developments and market fundamentals instead of counting on daily gains, adding that future price levels are inherently uncertain—even for long-term analysts.
Questions remain regarding the identity of the parties accumulating the additional 2.40 billion XRP in these large, unlabeled wallets. Whether this represents fresh accumulation, institutional custody, or a mix of both is still unclear based on existing blockchain evidence.
