Something unusual is happening beneath XRP’s price chart. While the token’s market capitalization dropped 29% over the past three months, the number of wallets holding at least 1 million XRP climbed by 32% in that same window. Cointelegraph shared the data, sourced from Santiment, in an update highlighting the divergence between price action and large-holder behavior.
Whale Accumulation Against Falling Price
The data shows large XRP holders adding to their positions even as the broader token value declined. This pattern stands out because it runs counter to typical market behavior, where falling prices often trigger selling rather than accumulation. Santiment’s tracking of wallets holding 1 million or more XRP tokens gives a window into how the largest holders are positioning themselves during this stretch.
Crypto commentators quickly weighed in on the numbers. Crypto Promo wrote, “The whales seem to have a different view of XRP right now.” The comment captures the core tension in the data: retail sentiment and whale activity appear to be moving in different directions.
The whales seem to have a different view of XRP right now.
— Crypto Promo (@CryptoVPromo) August 11, 2026
Genius echoed a similar sentiment, noting that “something definitely feels different here” when describing the combination of a sliding market cap and rising whale wallet counts.
Conviction Versus Price Weakness
NKJOYBOY offered a more detailed take on the numbers. The commentator wrote that “the price can fall while conviction quietly rises,” pointing to the 32 new wallets as the detail worth watching in the chart. NKJOYBOY argued that if the trend continues, it suggests larger holders are accumulating while the broader market reacts to short-term price weakness.
NKJOYBOY also reframed the conversation around a different question. Rather than asking why XRP is down, the commentator suggested the more relevant question is who remains willing to accumulate while others lose patience. NKJOYBOY described that divergence as the part of the situation that gets interesting.
What the Numbers Suggest
The wallet data offers a specific, measurable signal that differs from general price commentary. A 32-wallet increase among holders of 1 million or more XRP tokens represents a concrete rise in large-holder participation, not speculation about sentiment.
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Combined with the 29% market cap decline, the numbers create a clear split between short-term price movement and long-term positioning among XRP’s largest holders.
Santiment’s on-chain data continues to serve as a reference point for analysts tracking whale behavior across major tokens. In XRP’s case, the three-month window shows a measurable increase in large wallet counts during a period of declining valuation, a combination that has drawn commentary from multiple crypto voices.
Whether the accumulation trend continues will depend on how large holders respond to future price movements.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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