The number of XRP wallets holding more than 1 million tokens has been gradually increasing since the start of the year and could bode well for the asset’s long-term prospects, according to crypto analytics platform Santiment.
“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,” Santiment said in a post on Wednesday.
Crypto traders often track large-holder accumulation, using it as a signal for where the asset’s price could head in the future.
Santiment said that 42 more XRP (XRP) wallets holding over 1 million tokens have “returned to the ledger” since Jan. 1.
Santiment said this is “an encouraging sign for the long term”. With XRP trading at $1.87 at the time of publication, 1 million tokens is the equivalent to roughly $1.87 million, according to CoinMarketCap.
Meanwhile, XRP accumulation by “smart money” traders, who are deemed the most successful traders in the industry by returns, has risen 11.55% over the past 30 days, according to Nansen.
Analysts split on XRP’s movement in the weeks ahead
However, crypto analysts appear to have differing views on where XRP is moving next.
Crypto trader CW said in an X post on Wednesday that XRP is looking likely “to break through the selling wall soon.”
“Net buying remains strong, and the trend is reversing,” CW said, arguing that if the sell wall is broken, the price could rise to $2.30.
At the same time, asset manager 21Shares recently said that XRP’s pattern of multi-year compression followed by “sharp uncoiling events,” combined with growing regulatory clarity and institutional support, could leave the network “primed for continued price appreciation.”
However, Swyftx lead analyst Pav Hundal recently told Magazine that his “caution” on XRP is that “further upside becomes too reliant on narrative.”
Related: XRP price ‘liftoff’ to $10 may take time, traders say
Hundal argued that XRP’s price could face near-term pressure if there are “any unpleasant surprises” around the US CLARITY Act voting process.
Other signals show the overall market is struggling and is still mostly Bitcoin-focused.
The CoinMarketCap Altcoin Season Index currently shows a “Bitcoin score” of 31 out of 100, indicating that Bitcoin has been outperforming most of the top 100 altcoins over the past 90 days.
The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted a “fear” score of 26 in its Thursday update, signaling that investors are taking a cautious approach to the crypto market.
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