The number of XRP wallet addresses holding at least 10,000 tokens has grown by 16,815 since February 9, even as the token lost roughly 30% of its value over seven weeks, according to blockchain analytics platform Santiment. The divergence has drawn attention to the behavior of larger XRP holders as the asset trades near the psychologically significant $1 level.

In a recent post on X, Santiment reported that the number of qualifying XRP addresses had risen 5.15% over nine months, reaching approximately 343,500. The increase came despite repeated price declines and persistent weakness across the broader cryptocurrency market. At the time of the analysis, XRP was trading near $1.0582, placing it close to the $1 support level Santiment identified as important for the token's near-term direction.

Holder counts at fixed token thresholds are a standard on-chain metric for observing how a token's distribution shifts across market cycles — changes that are not visible in price data alone. At the $1.0582 reference price cited in the analysis, a 10,000 XRP balance equates to roughly $10,582, meaning the threshold captures wallets holding positions worth at least about that amount.

Large Wallet Counts Climb as Prices Fall

Santiment's data showed approximately 326,695 XRP addresses holding at least 10,000 tokens on February 9. By November, that figure had climbed to approximately 343,510, representing an increase of 16,815 addresses.

The growth became more pronounced between July and November, a period in which XRP struggled to sustain earlier price levels. Although the cryptocurrency made several unsuccessful recovery attempts, the number of addresses meeting the 10,000-token threshold continued to expand.

Santiment characterized the divergence between declining prices and rising large-wallet counts as an encouraging development, suggesting that some higher-capital traders may be accumulating XRP during the downturn rather than reducing their exposure.

However, an increase in qualifying addresses does not by itself establish that institutional investors or individual large holders have purchased additional XRP. The figures measure blockchain addresses rather than unique investors or the total amount of XRP accumulated, and changes in wallet distribution can affect the number of qualifying addresses without necessarily reflecting new buying.

Santiment Flags $1 as Key Support

Alongside the wallet data, Santiment identified $1 as a key psychological support level for XRP. Round-number price levels such as this are commonly described as psychological levels because market participants tend to pay close attention to them as prices approach. At the $1.0582 reference price, XRP traded roughly 5.8% above that level. The cryptocurrency's ability to remain above that price could influence its immediate market outlook, particularly if the number of larger wallet addresses continues to increase.

The analytics platform outlined a potential recovery scenario in which sustained large-wallet growth and stabilization in Bitcoin could support an XRP rebound toward $1.10. If the recovery continued, XRP could subsequently approach the $1.15 resistance region. Relative to the $1.0582 reference price used in the analysis, those targets represent potential gains of approximately 3.95% and 8.68%, respectively.

Santiment framed these levels as conditional scenarios rather than confirmed price forecasts. Its outlook depends on continued growth in larger wallet addresses, broader cryptocurrency market conditions, and XRP's ability to maintain its nearby support.

What Happens if XRP Falls Below $1?

Santiment also outlined a downside scenario involving a loss of the $1 support level. If XRP breaks below that threshold while the number of larger wallet addresses begins to decline, the cryptocurrency could face additional selling pressure in the short term. The platform suggested such a development could increase fear among retail market participants before a potential rebound emerges, though the timing and likelihood of any recovery remain uncertain.

The contrast between XRP's approximately 30% decline over seven weeks and the continued expansion of addresses holding at least 10,000 tokens remains the central finding of Santiment's analysis. While the growing address count may be consistent with accumulation by some market participants, it does not establish how much XRP has been purchased or whether the trend will continue.

For now, Santiment's analysis places particular emphasis on the $1 price level, the direction of large-wallet growth, and Bitcoin's broader market performance as the factors most likely to shape XRP's next movement. Tracking whether the count of addresses holding at least 10,000 tokens keeps expanding while XRP remains near $1 offers a concrete way to observe how the divergence between price and holder behavior evolves.