XRP Whale Wallet Count Rises 32 as Market Cap Falls 29%, On-Chain Activity Diverges From Price
Data from Santiment shows that the number of XRP wallets holding at least 1 million tokens increased by 32 over a three-month period, even as XRP's market cap declined by approximately 29%. On-chain activity has risen while the user base and price remain subdued, presenting a divergence that analysts note as noteworthy relative to price action.
According to data cited from Santiment, the count of XRP wallets holding at least 1 million tokens grew by 32 over the past three months. This accumulation occurred during a period when XRP's market capitalization fell by approximately 29%, suggesting that large holders were adding to positions while the broader market was declining.
Separate on-chain observations note that XRP activity levels have risen even as XRP recently closed at its lowest price level since November 2024. The divergence between rising on-chain engagement and a contracting user base or price presents a mixed but notable signal for those tracking network fundamentals.
The accumulation pattern at large wallet thresholds is considered a lagging indicator of conviction among holders with significant positions. Whether this sustained accumulation translates into price support or further network growth remains to be seen based on subsequent on-chain and market data.
Key facts
- •XRP wallets holding at least 1 million tokens rose by 32 over the past three months (Santiment data)
- •XRP market cap fell approximately 29% over the same period
- •On-chain activity levels have risen despite price decline
- •XRP recently closed at its lowest level since November 2024
- •User base growth has not kept pace with activity increases