On-chain data shows that XRP addresses holding more than a million tokens saw a reversal in behavior with some population growth in January.
Millionaire XRP Wallets have been growing in number recently
As indicated by on-chain analytics company Santiment in a new post on X, major XRP wallets have seen growth over the past month. The relevance indicator here is the “Supply Distribution,” which tells us, among other things, the total number of addresses that are part of a given coin.
In the context of the current article, the range of interest is one that has 1 million tokens as a lower bound and no upper limit. Currently, the range cut-off is set at $1.87 million, so the only investors who would qualify for it would be those with large assets.
As the group’s Supply Distribution chart below shows, these whales saw their population decline 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 index has come as the cryptocurrency sector as a whole is going through a bearish transition. In total, the XRP network saw the outflow of 784 million wallets during this window, a significant amount. However, since the beginning of January, this trend has changed. “XRP’s price is down 4% since the start of 2026, but its number of ‘millionaire’ wallets is increasing for the first time since September,” Santiment noted.
So far, the increase in addresses holding more than 1 million tokens has not been very noticeable, however, with only 42 wallets of this size appearing on the blockchain. That said, the fact that high-net-worth investors are no longer leaving the network is still a logical development.
A network that has seen some not-so-good whale-related development is Dogecoin. Citing data from Santiment, analyst Ali Martinez highlighted in a post on X how memecoin faced a 94.6% drop in whale transaction activity over the past few weeks.
The whale-sized transfers on the DOGE blockchain have been going down recently | Source: @alicharts on X
As shown in the graph above, whale-sized XRP transactions numbered 109 in the past four weeks, but today, that number has dropped to only 6. This shows that big organizations have shifted their attention to Dogecoin.
This may reflect risk-reducing behavior in the broader sector, where high-net-worth investors choose to pull back as uncertainty surrounds the market.
XRP price
XRP is currently trading around $1.87, down 22% from its high since early January.
Looks like the price of the coin has gone down in recent weeks | Source: XRPUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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