The number of wallets holding 1 million XRP has increased again, indicating a growing interest among investors and traders in accumulating large amounts of XRP. This trend suggests that more individuals are holding significant quantities of the cryptocurrency, which could impact market dynamics and liquidity.

As XRP experiences volatility in early 2026, a long-term on-chain signal that highly concerns holders has emerged: the number of wallets holding at least 1 million XRP has increased again, ending several months of decline and suggesting that large investors are re-accumulating their positions.

After Months of Decline, the Number of Million XRP Wallets Rises Again

On-chain analysis shows that the “million-level” group — wallets holding at least 1 million XRP — has grown for the first time since September 2025.

42 new million XRP wallets added, bringing the total to 2,016 Latest on-chain tracking data indicates that wallets holding at least 1 million XRP increased by 42, bringing the total to 2,016, ending four consecutive months of decline.

This change is significant because large investor behavior is often seen as a market sentiment indicator. When the number of large wallets increases, it usually signals new marginal accumulation (or at least reduced distribution), especially in the context of stable or weakening spot prices.

XRP Price Weakens, Large Wallets Improve Simultaneously

Since early 2026, XRP’s price has fallen about 4%, but the number of million XRP wallets has started to rise again. Meanwhile, the overall market environment remains complex; in early February, XRP stayed in the mid-$1 range, with active 24-hour trading volume.

This “soft price, steady or even increasing large wallet holdings” combination is precisely why this indicator attracts attention: it suggests some large investors are willing to add to or rebuild their positions without immediate price confirmation.

XRP ETF Capital Flows Add Institutional Context to On-Chain Signals

Beyond wallet counts, the institutionalization process of XRP has also become a focus for investors: ETF capital flows can influence spot demand, custody models, and market sentiment.

This month, spot XRP ETF net inflows approached $91.72 million Market reports show that the US-listed spot XRP ETF saw net inflows of nearly $91.72 million this month, although broader crypto ETF capital flows are not universally positive.

While ETF flows do not directly correspond to “whale wallets” (custodians may consolidate holdings, and ETFs can be stored in a few addresses), the combination of (1) rising large wallet counts and (2) ETF inflows reinforces the market interpretation of “demand support beneath the surface.”

XRP Price Trends from End of January to Early February

Recent snapshots show XRP closed January in the mid-$1 range, with higher performance earlier in the month — meaning the increase in large wallets occurred during a cooling market, not during a breakout.

What does the rise in million-wallets indicate, and what are its limitations? An increase in million-wallets is an important signal but not an independent predictive indicator. Correct interpretation requires a multi-dimensional perspective.

Why Wallet Count Is a Valuable Signal for XRP Accumulation

When the number of wallets holding at least 1 million XRP increases, it generally indicates:

• Net accumulation by large entities (funds, high-net-worth investors, corporations, long-term holders);
• Transfer of chips from medium-sized wallets to large wallets;
• Behavioral shift from dispersed holdings at the end of 2025 to re-accumulation in early 2026.

This wallet metric has directional significance because it is less affected by short-term fluctuations (such as hourly exchange fund flows). Changes in group size tend to be slow, making it a more reliable inflection point indicator.

Limitations of the XRP Indicator: Wallets Are Not Individuals, Custody Structures May Distort Signals

At the same time, wallet-based metrics have structural limitations:

• A single entity can control multiple wallets; multiple entities may appear consolidated through custody arrangements;
• Large service providers may rotate addresses for operational needs, causing number fluctuations without actual economic ownership change;
• Some “reflowed” addresses may only reflect categorization or transfer pattern changes, not genuine net buying.

Therefore, this indicator is best used as a market background reference — most valuable when it resonates with other data such as spot trading volume, overall risk appetite, and sustained ETF inflows.

How to Track XRP Signals on Gate and Participate in the XRP Market

For readers who want to stay engaged and track signals, a practical approach is to monitor this indicator continuously and keep execution processes simple and efficient.

XRP Monitoring: Combining On-Chain Group Trends and Market Structure An effective XRP tracking process includes:

• Monitoring the trend (direction and slope) of addresses holding over 1 million XRP;
• Combining with spot price performance and liquidity conditions (narrowing spreads, stable volume, reduced slippage);
• Viewing inflection points as risk signals (accumulation or dispersion), not absolute conclusions.

Gate’s XRP Trading Channels: Spot and Perpetual Markets

On the execution side, Gate offers active trading markets for XRP, including XRP/USDT spot and XRP/USDT perpetual contracts. Traders can choose to participate via spot or derivatives based on their risk preferences and strategies.

Given that whale wallet signals often lag behind market performance, many traders combine such data with strict risk controls (like position management, clear stop-loss zones, avoiding over-leverage in choppy markets).

Summary: Small but Notable Shift in Large XRP Holder Behavior

The key takeaway is clear: the number of wallets holding at least 1 million XRP has begun to rise — with a net increase of 42, reaching 2,016, the first growth since September 2025.

Against the backdrop of early February XRP remaining in the mid-$1 range and ongoing spot ETF inflows, this pattern reflects a typical crypto market feature: silent accumulation signals often precede price confirmation — but patience, corroboration, and disciplined execution are still required.