XRP market signals can shift even during periods of muted price action. Blockchain analytics firm Santiment shared on social media platform X on Jan. 28, 2026, that the number of high-balance XRP wallets has begun increasing again, marking the first growth since September despite a modest year-to-date price decline.

The analytics firm stated:

“ XRP’s price is down a modest -4% since the start of 2026, but its amount of ‘millionaire’ wallets are rising for the first time since September. A net of +42 wallets with at least 1M XRP have returned to the ledger, an encouraging sign for the long-term.”

Santiment presented on-chain data from the XRP Ledger showing addresses holding at least one million tokens plotted against XRP’s price since the start of the year. The chart accompanying the post showed that wallet growth resumed in early January while price movement remained relatively muted, highlighting a divergence between address totals and market performance during that period.

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The data also shows that the increase followed a steep decline between early October and the end of December, when the number of millionaire wallets fell by roughly 784 addresses. That decline leveled off in late December before reversing after the start of January, with 42 wallets returning even as XRP remained down year to date. The comparison of wallet counts and price indicates that the recovery in high-balance addresses occurred after the prior contraction rather than alongside a strong price rebound.

Market analysts often describe this type of divergence between on-chain metrics and price action as constructive, noting that rising participation among large wallets can coincide with tightening supply conditions. Observers also point to declining exchange balances over the past year and the approval of several spot XRP exchange-traded funds (ETFs) in November 2025 as developments shaping the current market structure. While the recent rebound marks a shift from fourth-quarter declines, analysts caution that wallet totals remain below mid-2025 levels, signaling recovery rather than a full return to prior concentration.

• Why are rising XRP millionaire wallets important for investors?
  An increase in wallets holding at least 1 million XRP suggests renewed accumulation by large holders, often viewed by investors as a constructive long-term signal despite weak short-term price action.
• What does the divergence between XRP wallet growth and price indicate?
  The divergence indicates that high-balance investors may be positioning ahead of future catalysts, tightening supply even while price remains muted.
• How significant is the recent recovery in high-balance XRP wallets?
  The return of 42 millionaire wallets after a steep Q4 decline signals stabilization and early recovery, though levels remain below mid-2025 highs.
• What broader market factors are influencing XRP’s current structure?
  Declining exchange balances and the approval of spot XRP ETFs in late 2025 are reshaping supply dynamics, potentially supporting longer-term investor confidence.

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