On-chain data shows the XRP addresses holding over a million tokens have seen a reversal in behavior with some population growth in January.
Millionaire XRP Wallets Have Been Growing In Count Recently
As pointed out by on-chain analytics firm Santiment in a new post on X, large XRP wallets have seen growth during the past month. The indicator of relevance here is the “Supply Distribution,” which tells us, among other things, the total number of addresses that belong to a given coin range.
In the context of the current topic, the range of interest is the one with 1 million tokens as the lower bound and no upper bound. Currently, the cutoff for the range converts to $1.87 million, so the only investors who would qualify for it will be those with substantial holdings.
As the below chart for the cohort’s Supply Distribution shows, these whales saw their population shrink between October and December.
The trend in the Supply Distribution of the XRP whales over the last few months | Source: Santiment on X
This decline in the indicator came as the cryptocurrency sector as a whole went through a bearish shift. In total, the XRP network saw the exodus of 784 millionaire wallets during this window, a significant amount. Since the start of January, however, the trend has flipped. “XRP’s price is down a modest 4% since the start of 2026, but its number of ‘millionaire’ wallets is rising for the first time since September,” noted Santiment.
So far, the increase in addresses holding more than 1 million tokens hasn’t been anything too notable, though, with just 42 wallets of this size popping back up on the blockchain. That said, the fact that big-money investors are no longer leaving the network could still be a meaningful development.
A network that has seen a development related to whales that’s not so positive is Dogecoin. Citing data from Santiment, analyst Ali Martinez has highlighted in an X post how the memecoin has faced a 94.6% plunge in whale transaction activity during the last few weeks.
The whale-sized transfers on the DOGE blockchain have been going down recently | Source: @alicharts on X
As displayed in the above graph, whale-sized XRP transactions numbered at 109 four weeks ago, but today, that figure has dropped to just 6. This suggests that the large entities have shifted their attention away from Dogecoin.
This could reflect the risk-off behavior in the wider sector, where the big-money investors are choosing to pull back as uncertainty surrounds the market.
XRP Price
XRP is trading around $1.87 right now, down 22% compared to its top from early January.
Looks like the price of the coin has gone down in recent weeks | Source: XRPUSDT on TradingView
