The number of XRP millionaire wallets has climbed to its highest level of 2026, even as the cryptocurrency struggles to regain higher price levels.
Data from on-chain analytics platform Santiment, shared in an X post on November 2, shows that the XRP Ledger now has 2,147 wallets holding at least 1 million XRP tokens. This represents the highest concentration of million-token wallets since December 2025.
The figure has increased by 28 wallets over the past 10 days, including 18 additions in the last three days, indicating an acceleration in the growth of large XRP holders.
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Large holders expand positions amid XRP weakness
The increase in large-balance wallets is particularly notable because it comes amid relatively weak XRP price performance.
Rather than declining alongside the token’s price, the number of addresses holding at least 1 million XRP has continued to rise.
Santiment interprets this divergence as a potential sign of accumulation, suggesting that large holders may be building their positions instead of reducing exposure during the market downturn.
However, the increase does not necessarily mean that 28 new investors have entered the market. The metric tracks wallet addresses crossing the 1 million XRP threshold, meaning existing holders can also contribute to the increase by accumulating additional tokens. Exchange wallets and other pooled holdings can also affect the count.
Despite the growing number of large holders, the cryptocurrency still needs to overcome several price levels before the accumulation trend translates into a stronger bullish outlook.
XRP price analysis
To this end, Santiment identified the $1.20 to $1.25 range as an important support zone. Maintaining this range while the number of million-token wallets remains above 2,140 would keep the long-term outlook constructive.
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On the upside, XRP would first need to reclaim the psychological $1.30 level, followed by $1.40. A sustained recovery above these levels, accompanied by continued growth in large-balance wallets, would offer stronger evidence that accumulation is supporting the price.
By press time, XRP was trading at $1.28, having gained 2.4% over the past 24 hours. However, the asset remained down more than 3% over the weekly period.
XRP is trading slightly above its 200-day simple moving average (SMA) of $1.27 but below its 50-day SMA of $1.39.
This suggests that while the cryptocurrency retains some longer-term support, its short-term trend remains bearish, with the price yet to recover above a key resistance indicator.
Meanwhile, the 14-day Relative Strength Index (RSI) stands at 43.17, below the neutral 50 threshold, indicating that buying momentum remains relatively weak.
However, the indicator is still above the oversold level of 30, leaving room for further downside before signalling oversold conditions.
Featured image via Shutterstock
