Santiment Reports 'Positive Signal' as XRP Whale Wallets Show Growth
Despite broader cryptocurrency market sentiment deteriorating into 'fear' levels according to popular metrics, wallets containing over 1 million XRP tokens continue to increase in number.
According to cryptocurrency analytics firm Santiment, XRP wallets containing in excess of 1 million tokens have been experiencing a steady upward trend since the beginning of the year, a development that may signal positive prospects for the digital asset over the long haul.
In a Wednesday announcement, Santiment noted that "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."
Large wallet holder accumulation patterns are frequently monitored by cryptocurrency market participants, who utilize this data as an indicator to forecast potential future price movements for digital assets.
According to Santiment's analysis, a total of 42 additional XRP wallets containing over 1 million tokens have "returned to the ledger" since Jan. 1.
This development represents "an encouraging sign for the long term," according to Santiment. At the current trading price of $1.87 at the time of publication, a holding of 1 million tokens translates to approximately $1.87 million, based on CoinMarketCap data.
Additionally, data from Nansen indicates that accumulation by "smart money" market participants, defined as the most successful traders in the sector based on their returns, has increased by 11.55% over the past 30 days.
Market observers divided on XRP's near-term price trajectory
That said, cryptocurrency market analysts seem to hold varying perspectives regarding XRP's forthcoming price direction.
In a Wednesday post on X, cryptocurrency trader CW suggested that XRP appears "to break through the selling wall soon."
CW maintained that "Net buying remains strong, and the trend is reversing," suggesting that a breakthrough of the sell wall could propel the price toward $2.30.
Meanwhile, digital asset manager 21Shares has recently stated that XRP's historical pattern of prolonged multi-year compression periods followed by "sharp uncoiling events," when combined with increasing regulatory clarity and institutional backing, could position the network "primed for continued price appreciation."
On the other hand, Pav Hundal, lead analyst at Swyftx, recently shared with Magazine that his "caution" on XRP stems from the concern that "further upside becomes too reliant on narrative."
Hundal suggested that XRP's valuation might experience near-term downward pressure should there be "any unpleasant surprises" surrounding the US CLARITY Act voting process.
Additional market indicators reveal that the broader cryptocurrency market continues to face challenges and remains predominantly Bitcoin-centric.
According to the CoinMarketCap Altcoin Season Index, the current "Bitcoin score" stands at 31 out of 100, suggesting that Bitcoin has been delivering superior performance compared to the majority of the top 100 alternative cryptocurrencies throughout the past 90 days.
Meanwhile, the Crypto Fear & Greed Index, a metric designed to gauge overall cryptocurrency market sentiment, registered a "Fear" reading of 26 in its Thursday update, reflecting that market participants are adopting a more cautious stance toward cryptocurrency investments.