XRP wallets holding at least 1 million tokens have climbed to 2,147, the highest count recorded at any point in 2026, according to blockchain analytics firm Santiment. The firm flagged the milestone in a report published on November 3, 2026. What stands out is the timing: the largest wallets have kept growing while XRP's price has barely moved, trading in a narrow range between $1.20 and $1.25.

Whales Are Buying the Quiet Stretch

Per Santiment, the count of million-plus XRP wallets rose by 28 addresses over a 10-day window. Most of that increase came late, with 18 of the new addresses appearing in the final three days — a concentration in a short burst rather than a steady climb across the period.

All of this occurred while XRP traded between $1.20 and $1.25, which Santiment describes as a relatively weak range for the token. The firm reads the pattern as accumulation by long-term holders, rather than large investors heading for the exits.

Wallet counts like these are watched because they are read straight from the ledger, giving a direct view of how the largest holders are positioned even when price action is quiet. These wallets make up a tiny slice of the network. As of early November 2026, the XRP Ledger — the open-source blockchain whose native asset is XRP — had roughly 8.3 million funded accounts, and wallets holding 1 million or more XRP represent just 0.03% of that total. At the current range, the 1-million-token threshold works out to roughly $1.2 million or more per qualifying wallet.

Not the First Time

The episode is not a one-off. Santiment points to a similar stretch ending in August 2026: over three months, the number of wallets holding 1 million or more XRP grew by 32, even as XRP's market capitalization fell 29% over the same period.

The broader network has also shown elevated activity. On November 1, 2026, the XRP Ledger saw 7,934 new wallets created, which Santiment ranks as the sixth-highest daily total of the year. That pace of account creation offers a broader measure of network growth alongside the large-holder figures.

What Santiment Is Watching Next

Santiment has laid out specific conditions for what it would consider a constructive setup. The firm frames them as markers rather than promises, and none are guarantees.

First, the million-plus wallet count would need to stay above 2,140 while the price stabilizes in the $1.20 to $1.25 range. Second, Santiment says stronger confirmation would come if XRP can reclaim $1.30, and then $1.40, paired with continued growth in large-holder addresses.

Caveats Worth Keeping in Mind

A wallet is not a person. One entity can control many addresses, and a single custodian or exchange reorganizing its holdings can shift the count without any new buying taking place. The metric can also move for mechanical reasons unrelated to market behavior.

Santiment's framing also hinges on conditions that have not yet been met. The setup it describes depends on the 2,140 floor holding and on XRP climbing past price levels it currently trades below.

The August precedent is instructive in both directions. Large holders added 32 wallets while market cap dropped 29% — evidence of conviction, but also a reminder that large-holder buying does not automatically stop a price decline in the short term.

For now, a small group of addresses, representing 0.03% of funded accounts, appears to be treating a dull trading range as an opportunity.

This article is based on reporting published by CryptoBriefing on November 4, 2026; the original was edited by Estefano Gomez.