XRP (XRP-USD) has faced a rocky start to the year, with its price falling about 4% throughout January. However, behind the scenes, a different story is playing out. Large-scale investors, often called whales, are using this period of weakness to rebuild their positions. On-chain data indicates that the number of wallets holding at least one million XRP has begun to climb again, marking a significant shift in behavior after months of steady selling.
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Millionaire Wallets End 4 Months of Selling
The total count of these millionaire addresses rose by 42 this month, bringing the total to 2,016 globally. This is the first time this metric has increased since September 2025. According to the analytics firm Santiment, the return of these high-value holders to the ledger is an “encouraging sign for the long-term.” At current prices, each of these wallets holds at least $1.87 million worth of the digital asset, showing a massive level of financial commitment from these participants.
Investors Favor XRP ETFs Over Bitcoin
While the broader crypto market has been struggling, XRP investment products are seeing a massive surge in demand. U.S.-listed spot XRP ETFs have pulled in a net $91.72 million so far this month. This trend stands in sharp contrast to Bitcoin ETFs, which have actually seen investors pull out $278 million over the same period.
The steady flow of money into these regulated funds suggests that institutional players are treating XRP as a portfolio staple rather than a speculative trade. Total assets held across all XRP spot funds now stand at roughly $1.51 billion. This institutional buying has helped create a “floor” for the price, even as individual traders remain cautious.
Smart Money Absorbs Market Pressure
Data from Nansen reveals that “smart money” traders, those with a history of high returns, have increased their XRP holdings by more than 11% over the last 30 days. This quiet accumulation suggests that professional investors are looking past the current price of $1.81 and focusing on the future.
Historically, when the number of large holders rises while the price stays flat or falls, it signals a period of accumulation. Essentially, the weak hands are selling their tokens while strong hands are scooping them up. Many analysts believe that once this period of consolidation ends, XRP could be primed for a sharp move toward the $2.30 level, provided the broader market finds its footing.
At the time of writing, XRP is sitting at $1.8107.
