Santiment data indicate that XRP wallets holding at least a million tokens have risen, even as the token’s price slips about 4% since the start of 2026. The divergence between price action and on-chain wallet growth points to a cautious backdrop where investors weigh accumulation signals against weaker short-term momentum.
On January 29, Santiment reported a net addition of 42 wallets with at least one million XRP, marking the first uptick in “millionaire” wallets since September 2025. The accompanying price decline over the same period remains modest, reinforcing the view of accumulation rather than distribution among large holders. At the time of writing, XRP traded around $1.88, down roughly 2% in 24 hours and about 4% over the past week.
From a monthly perspective, the token is marginally higher, up about 2%, but remains roughly 40% below levels from a year ago. Technical observations place XRP about 25% below its 200-day moving average near $2.50. Risk-adjusted metrics echo caution, with the 30-day Sharpe Ratio near zero and momentum indicators signaling consolidation rather than a clear directional move.
Industry commentary aligns with a measured view for 2026. Analysts like XrpArthur cautioned against inflated targets such as $13–$30, noting macro conditions, liquidity, Fed policy, Bitcoin dominance, and actual XRP Ledger usage. 21Shares offered a base-case near $2.45, a bull case around $2.70, and a bear case near $1.60, highlighting regulatory clarity after the August 2025 SEC settlement and the potential demand from U.S. spot XRP ETFs.
The firm also underscored that sustained inflows, tokenization growth, and RLUSD adoption are needed to justify higher valuations. Near-term trading has XRP moving within a tight range of $1.80–$2.00, with market watchers assessing whether it can reclaim resistance near $2.00. In sum, the rise in large wallets contrasts with a hesitant market, leaving XRP in a holding pattern as 2026 progresses.
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