XRP Whales Are Quietly Loading Up as Millionaire Wallets Hit Highest Level of 2026; Here’s Why It Matters

XRP whales appear to be making a bold move while much of the crypto market struggles to regain its footing. Despite lingering price pressure, the number of wallets holding substantial amounts of the cryptocurrency continues to climb, pointing to a potentially significant shift in large-holder behavior. The development has caught the attention of market watchers, raising a bigger question: are deep-pocketed investors quietly positioning themselves for XRP’s next major move?

What the Rise in XRP Whale Wallets Means for Bulls

Data from blockchain analytics platform Santiment shows that the number of XRP wallets holding at least 1 million tokens has climbed to 2,147, marking the highest level recorded in 2026. 

The trend has accelerated in recent days, with 28 new wallets joining the so-called millionaire club over the past 10 days alone, including 18 in the last three days. The steady increase suggests large XRP holders may be using the recent price dip to build positions, rather than retreating amid market uncertainty.

Santiment has also highlighted the $1.20-$1.25 range as a critical support zone for XRP. According to the analytics platform, the bullish outlook would remain intact if the token defends this price area while the number of wallets holding at least 1 million XRP stays above 2,140. Maintaining both conditions could suggest that large-holder confidence remains firm despite ongoing market volatility.

3 Under-the-Surface Catalysts Driving XRP’s Bull Case

While XRP’s price action continues to attract attention, several developments beneath the surface could shape its longer-term outlook. Beyond whale accumulation, growing institutional exposure, expanding activity across the XRP Ledger (XRPL), and declining exchange reserves are emerging as important factors for bulls to watch. Here are three potential catalysts that could strengthen the case for a sustained XRP recovery.

One less obvious development supporting XRP’s bullish outlook is continued interest from institutional investors through exchange-traded funds. Despite recent price volatility, regulated investment products offer traditional investors another route to gain exposure to the cryptocurrency.

Blockworks’ Q3 2026 XRP report highlighted that global XRP exchange-traded products attracted roughly $355 million in net inflows during the quarter, representing a 40% increase from the previous quarter. Assets under management also climbed 65% to $3.3 billion.

Another potential catalyst is the growing activity around Ripple’s dollar-pegged stablecoin, RLUSD. Rather than competing directly with XRP, the stablecoin could help expand the range of financial activities taking place on the XRP Ledger, particularly payments, liquidity management, and institutional settlement.

A third development worth watching is the movement of XRP away from centralized exchanges. When investors withdraw tokens from trading platforms, it can reduce immediately available supply, potentially easing selling pressure if demand picks up.

As ZyCrypto covered earlier, Binance’s XRP reserves fell from approximately 2.69 billion to 2.47 billion between October 28 and October 30. Bybit also recorded a notable decline in its XRP reserves, with holdings falling from 306 million to 286 million tokens, representing an outflow of 20 million XRP. 

The bullish case is simple: long-term holders appear to be absorbing available supply, while growing institutional interest, expanding XRPL adoption, and declining exchange reserves provide additional tailwinds for XRP.