Data from blockchain intelligence platform Santiment reveals that the XRP Ledger — the payment-focused blockchain maintained by Ripple — added 32 new millionaire wallets, those holding more than 1 million XRP tokens, over a roughly three-month period, even as the asset's price declined to its lowest level since late 2024. XRP consistently ranks among the most heavily traded digital assets, and wallet concentration metrics are closely watched by on-chain analysts as an indicator of how large holders are positioning during periods of price stress.

XRP's price briefly touched the major demand zone of $1, with the daily close on August 12, 2026 reaching approximately $1.00 — the lowest since November 2024 and roughly 69% below the January 2025 peak near $3.30. During the same three-month window, XRP's price fell approximately 29%, yet wallets holding over 1 million tokens continued to increase in number.

The number of XRP wallets holding more than 1 million tokens is going up. Looks like whales are accumulating while the price of XRP goes down. Per @SantimentData pic.twitter.com/EksQ1F7Z9F — XRP Myth Buster (@XRPMythBuster) August 12, 2026

Ledger Activity Surges 33%

On-chain activity on the XRP Ledger increased 33%, with August 11, 2026 marking the busiest day on the network in half a year. Average daily active addresses rose to approximately 35,700 in August, compared to roughly 26,400 throughout July 2026.

Santiment noted that this activity spike was primarily driven by existing XRP holders rather than new wallet creation, indicating no significant wave of fresh retail interest. The platform described the trend as reflective of established holders re-engaging with the asset. This distinction matters because volume driven by existing participants rather than new entrants can signal a different demand profile than activity fueled by first-time buyers.

$XRP just closed at its lowest since November 2024, and the on-chain read is more interesting than the price. 📉 Price closed at ~$1.00 on Aug 12, the lowest daily close since Nov 2024 and roughly 69% below the January 2025 peak near $3.30. 📊 Activity picked up anyway. Active… pic.twitter.com/3JcxJjWNFd — Santiment Intelligence (@SantimentData) August 13, 2026

Trading Volumes and Derivatives Data

From a technical standpoint, XRP has been trading within a falling wedge pattern between $1 and $3 — a formation that chart analysts typically monitor for potential trend changes. Spot trading volumes registered $858 million over a 24-hour period, according to CoinGecko data.

In the futures market, leveraged traders accounted for $1.49 billion in 24-hour trading volume. Liquidations totaled $1.85 million daily, of which $1.77 million — the vast majority — were long positions. The long-to-short ratio shifted to 0.92, indicating a higher proportion of short-selling activity. However, on Binance, the long-to-short ratio for XRP stood at 3.0225, according to real-time data from CoinGlass, suggesting bullish positioning among the exchange's traders. Such divergences in derivatives positioning across exchanges are commonly tracked by traders as a gauge of sentiment fragmentation.

Regulatory Context

The growing concentration of millionaire wallets comes amid Ripple's continued engagement with U.S. regulatory developments. Ripple has been a vocal supporter of the CLARITY Act, a draft bill expected to be considered in mid-September 2026, which proponents say could establish a clearer regulatory framework for digital assets. The bill is part of a broader push in Congress to define the boundary between securities and commodities for cryptocurrencies — a question that has shaped XRP's trajectory since the SEC's 2020 enforcement action against Ripple, which was resolved in 2023 with a ruling that XRP programmatic sales on exchanges did not constitute securities offerings. The outcome of pending legislative efforts could affect how XRP and similar tokens are treated under U.S. law.