XRP has spent the past seven weeks moving in one direction, and it isn’t up. Yet the number of wallets holding at least 10,000 XRP has quietly kept rising.
On-chain analytics firm Santiment reports that these mid-to-large holder addresses grew by 16,815 over the past nine months. That represents a 5.15% increase, bringing the total to roughly 343,500 as of November 11, 2026.
The timing is what makes this noteworthy. XRP fell about 30% over that seven-week stretch, settling near $1.05. That puts it uncomfortably close to the $1 mark that traders treat as a line in the sand.
Bigger wallets, smaller price
Santiment’s metric is straightforward. It counts how many XRP wallets hold at least 10,000 tokens at any given moment.
On November 11, XRP traded between $1.06 and $1.07. Earlier in the month it had been sitting above $1.25, so the slide has been steep and recent.
The accumulation picture strengthens as you move up the wealth ladder. Wallets holding 1 million XRP or more reached 2,147, a new high for 2026.
That group added 28 new addresses in just ten days through early November. For a cohort that small, adding dozens of members during a selloff is a notable shift.
At the very top, wallets holding at least 10 million XRP controlled about 68.5% of the total supply as of early November.
That works out to 46.87 billion tokens. It is also the largest share these wallets have held since late 2022.
Why Santiment reads this as accumulation
Analysts at Santiment suggest that when large-holder addresses expand during periods of price weakness, it may reflect deliberate accumulation by significant investors. Their read is that this pattern does not point to a mass exodus of retail holders.
The logic is fairly intuitive. If big holders were the ones dumping, you would expect the count of large wallets to shrink as they distribute tokens to the broader market. Instead, the count is growing, which could imply tokens are flowing toward bigger balances rather than away from them.
There is also a measurement caveat worth keeping in mind. Wallet counts track addresses, not people, so a single entity may control many wallets and shuffle funds between them.
What this means for $XRP holders
The most immediate level to watch is $1. XRP is trading just a few cents above it, and that round number tends to carry psychological weight for traders.
The concentration figure deserves attention on its own. With wallets of 10 million XRP or more holding about 68.5% of supply, the market’s direction may lean heavily on a relatively small group of addresses.
Going forward, the useful signals will be whether the 10,000-plus wallet count keeps rising, whether the 1 million-plus cohort keeps 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 is still weak, Santiment’s own framework would read that as large holders possibly beginning to cash out.
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