Santiment posted on the X platform that XRP’s price has decreased by 4% since the beginning of 2026.
Despite this decline, the number of wallets holding significant amounts of XRP, often referred to as ‘millionaire’ wallets, is on the rise..
The price of XRP dips further
XRP price started a downside correction and declined below $1.90 after facing resistance at $1.9250. According to data source from Tradingview, XRP is now trading at 1.8677 and the 100-hourly Simple Moving Average of 1.8712 at press time.
XRP could start another increase if it stays above $1.882, above which the price could rise further and test $1.950. A clear move above the $1.950 resistance might send the price toward the $2.00 resistance.
Any more gains might send the price toward the $2.00 resistance. The next major hurdle for the bulls might be near $2.050. However, a close below $1.870 may trigger decline towards $1.820 and lower.
Whale wallets rise
On January 29, Santiment reported that XRP has added a net 42 wallets holding at least one million tokens since the beginning of the year, the first increase in āmillionaireā wallets since September 2025.
The analytics firm noted that the price decline over the same period remains modest at around 4%, pointing to accumulation rather than distribution among larger addresses.
At the time of writing, XRP was down over 2% over the past 24 hours and roughly 4% in the last seven days, according to Tradingview data. On a monthly view, the token is slightly higher, up about 2%, but it remains close to 40% lower than a year ago.
Large XRP whales sell, smaller whales absorb
As market sentiment turned to extreme fear, on chain data shows that large XRP whales have sold around 400 million tokens, valued at $800 million, contributing to increased market distribution pressure.
However, according to NS3.AI, smaller whales have absorbed a significant portion of this supply, which has helped limit bearish momentum. Meanwhile, long-term holders continue to accumulate tokens, reflecting sustained confidence in the asset.
What should we expect?
Technical data cited by Arab Chain place XRP around 25% below its 200-day moving average, which sits near $2.50. Risk-adjusted metrics also reflect caution.Ā
The 30-day Sharpe Ratio is close to zero, suggesting recent returns have offered little compensation for volatility, while short-term momentum readings point to consolidation rather than a strong directional move.
This technical picture matches up with recent commentary from market watchers like XrpArthur, who warned against optimistic price targets circulating on social media, arguing that projections of $13 to $30 ignore macro conditions, liquidity, Federal Reserve policy, Bitcoin dominance, and actual usage on the XRP Ledger.
This current trend indicates a growing interest among wealthy investors in accumulating XRP, even as its market value experiences a slight downturn. The increase in these wallets suggests confidence in the long-term potential of XRP among affluent holders.