The number of wallets holding at least one million XRP has just reached its highest level for 2026, despite the weakness in the price. Presented as a sign of accumulation, this record also reveals a growing concentration of tokens between a few addresses, some of which belong to platforms rather than individual investors.
In brief
- XRP hits an annual record with 2,147 wallets holding at least one million tokens.
- The number of large portfolios is increasing despite the low price.
- These addresses represent only 0.03% of funded XRP accounts.
- Some wallets belong to platforms and do not correspond to individual investors.
- The growing concentration of tokens could increase the risks of mass sales.
Only 0.03% of accounts cross the million XRP mark
According to Santiment, 2,147 wallets now own at least one million XRP, an annual record. Their number increased by 28 in ten days, including 18 during the last three days observed. This acceleration occurred while the token was mainly trading between $1.20 and $1.25.
The on-chain analysis company has noted :
XRP now has 2147 wallets holding at least one million tokens, the highest number in 2026.
Santiment interprets this progression during a period of price weakness as a possible sign of accumulation.
However, the data allows us to place this record in context:
- The 2,147 addresses represent approximately 0.03% of the 8.3 million funded XRP accounts;
- One million XRP is worth between $1.20 and $1.25 million at the current price;
- The number of large wallets increased by around 1.3% in ten days;
- In August, 32 similar addresses had already been added in three months;
- However, the capitalization of XRP had fallen by 29% during this previous phase.
An increase in the number of large portfolios may reflect long-term confidence without preventing an immediate decline in price. Large holders may accumulate for several weeks before a recovery appears, or remain exposed as the market continues to correct.
The creation of 7934 new wallets on 1er November nevertheless strengthens the activity signal. This day constitutes the sixth largest daily increase in 2026 for the XRP Ledger. It followed the Binance hack, which may have prompted some users to move their assets to personal wallets.
A millionaire wallet is not always a new buyer
The expression “millionaire wallet” can give the impression that 2147 people each own a fortune in XRP. The reality is more complex. One person can control multiple addresses, while a single wallet belonging to a platform can hold the funds of thousands of customers.
Crossing the threshold of one million XRP also does not prove that a purchase has just been made. A platform can reorganize its reserves, an investor can divide a portfolio into several addresses or, conversely, consolidate their assets.
The available data shows the significant weight of intermediaries. More than 400 millionaire wallets associated with platforms, together hold more than 27 billion XRP. The largest addresses identified included Bithumb, Robinhood, Binance, Upbit and Ripple.
Santiment’s record therefore measures the evolution of a category of sales, not the exact number of whales. It must be supplemented by purchase volumes, movements towards platforms and identification of owners.
This distinction is all the more important as more than 6 billion XRP had been transferred to exchanges in the thirty days leading up to October 19, a seven-month high. Such deposits can prepare for sales, serve as collateral or simply accompany a portfolio reorganization.
Concentration can support or weaken the course
The rise of large wallets potentially reduces the amount of XRP available to short-term buyers when tokens are removed from platforms. Over the seven days leading up to November 4, the balances of a constant set of exchange addresses would have decreased by approximately 291 million XRP. This development, however, remains imperfect, because platforms can move their reserves to wallets that have not yet been identified.
A high concentration also carries a risk. Wallets with at least 10 million XRP recently controlled 68.5% of the supplytheir highest share since November 2022. A sale decision taken by a few large entities can therefore create significant pressure on an already fragile market.
Santiment considers that the scenario would become more convincing if the number of millionaire wallets remained above 2140 while the price defends the zone of 1.20 to 1.25 dollars. A successive reconquest of 1.30 then 1.40 dollars, accompanied by continued accumulation, would provide more solid confirmation.
The current record therefore constitutes a positioning signal, not a forecast of an increase. To become truly favorable, the increase in large wallets will have to be accompanied by a lasting decline in reserves on the platforms, stronger cash demand and a recovery in price.
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