XRP’s price has declined over the past seven weeks, but the number of wallets holding at least 10,000 XRP has continued to rise, according to on-chain analytics firm Santiment.
Santiment reported that these mid-to-large holder addresses increased by 16,815 over the past nine months, a 5.15% gain that brought the total to approximately 343,500 as of November 11, 2026.
The increase came during a period of price weakness. XRP fell roughly 30% over seven weeks and settled around $1.05. On November 11, it traded between $1.06 and $1.07, after sitting above $1.25 earlier in the month.
Larger wallets also increase
The accumulation trend was more pronounced among larger holders. Wallets holding 1 million XRP or more reached 2,147, a new high for 2026, according to the data.
That group added 28 new addresses in the ten days through early November. Santiment noted that for a cohort of that size, adding dozens of members during a selloff is a notable shift.
Wallets holding at least 10 million XRP controlled about 68.5% of the total supply as of early November, equivalent to 46.87 billion tokens. That was the largest share these wallets have held since late 2022.
How Santiment interprets the trend
Santiment analysts suggest that when large-holder addresses expand during periods of price weakness, it reflects deliberate accumulation by significant investors. Their reading is that the pattern does not point to a mass exodus of retail holders.
The firm’s logic is that if large holders were distributing tokens to the broader market, the count of large wallets would be expected to shrink. Instead, the count is growing, which implies tokens are flowing toward larger balances rather than away from them.
Santiment also notes a measurement caveat: wallet counts track addresses, not people, so a single entity can control many wallets and move funds between them.
What to watch
The immediate focal point is the $1 level. XRP is trading just a few cents above it, and that round number tends to carry psychological weight for traders.
The concentration figure is also notable. With wallets of 10 million XRP or more holding about 68.5% of supply, the market’s direction leans heavily on a relatively small group of addresses.
Going forward, Santiment’s framework points to several signals: whether the 10,000-plus wallet count keeps rising, whether the 1 million-plus cohort continues setting 2026 highs, and whether the top-tier share of supply holds near its late-2022 peak. If those numbers start rolling over while the price remains weak, Santiment’s framework would read that as large holders beginning to cash out.
