Large holders continue accumulating XRP even as the token extends a prolonged price decline, according to data from on-chain analytics provider Santiment. Wallets holding at least 10,000 XRP have grown by 16,815 over the past nine months, reaching approximately 343,500. The expansion comes as the XRP price approaches the $1.05 area after losing roughly 30% over seven weeks. Separately, crypto analyst EGRAG CRYPTO has identified a potential double-bottom formation that places the $1.00–$1.05 zone at the center of XRP's next possible recovery.

XRP Wallets Reach Roughly 343,500 Despite Selloff

Per Santiment Intelligence, XRP wallets holding at least 10,000 tokens now number approximately 343,500 — an increase of 16,815 wallets, or 5.15%, over the past nine months. The 10,000 XRP threshold is a commonly used on-chain filter for tracking larger-holder cohorts, which is what makes this trend visible during a downturn. The development stands out because XRP has faced considerable selling pressure during the same period, with its price falling about 30% over seven weeks and approaching the $1.05 area.

Source: Santiment Intelligence's X post

The growing number of larger wallets suggests some market participants continue to accumulate XRP despite weakening market conditions. Wallet growth alone, however, does not confirm net buying activity, as tokens can move between existing wallets or be distributed across multiple addresses.

Even so, the divergence between declining prices and rising large-holder wallet counts provides an important indicator of changing market participation.

Whale Activity Diverges From XRP's Decline

The gap between XRP's price performance and large-holder wallet growth has become a focal point of the market discussion. Santiment's data shows that wallets holding at least 10,000 XRP have continued expanding despite growing uncertainty among smaller investors, suggesting larger market participants may be approaching the downturn differently from retail traders.

The $1.00 level is particularly significant in this context — round-number prices are widely treated as psychological reference points in trading, which is why behavior around them tends to draw close scrutiny. According to Santiment, maintaining this psychological support while larger-wallet numbers continue increasing could strengthen the recovery outlook. If XRP holds above $1.00 and Bitcoin stabilizes, a move toward $1.10–$1.15 could develop. Conversely, a breakdown below support accompanied by declining large-holder wallet numbers would weaken the bullish accumulation narrative.

XRP Tests $1.00 Support as Double-Bottom Develops

Crypto analyst EGRAG CRYPTO has identified a potential double-bottom formation on XRP's daily chart, highlighting three technical developments that support the possibility.

First, the XRP price is testing a fair value gap (FVG) between $1.00 and $1.05 — an imbalance zone left behind by a sharp price move, which traders often watch for a revisit before direction changes. EGRAG believes that filling approximately 50% of this gap could provide an opportunity for a reversal.

Second, smaller daily candlesticks suggest that selling pressure may be losing momentum — a possible sign of seller exhaustion, although additional confirmation is needed.

Source: EGRAG CRYPTO's X post

Third, the chart appears to be developing a potential double-bottom structure around the current support area. In technical analysis, a double bottom forms when price tests the same support zone twice and holds both times, with the neckline marking the resistance high between the two lows; a break above that line is conventionally treated as pattern confirmation. The $1.00–$1.05 region therefore remains important for XRP's short-term direction: a sustained hold could support a recovery attempt, while a breakdown would weaken the developing bullish structure.

EGRAG CRYPTO Outlines $1.385 and $2.00 Targets

EGRAG CRYPTO outlined a conditional recovery scenario based on the potential double bottom. Under the analyst's preferred outlook, the XRP price could initially rebound toward $1.20–$1.25 before returning to retest the $1.00–$1.05 support region.

If the retest holds and XRP subsequently breaks above the pattern's neckline, the analyst identifies $1.385, $1.51, and $2.00 as potential upside targets. However, EGRAG emphasized that the double bottom is not confirmed until resistance breaks, meaning these levels remain conditional targets rather than established price expectations.

What Comes Next for XRP?

XRP's next move will largely depend on its ability to defend the $1.00 psychological level. Market participants will also monitor whether the number of wallets holding at least 10,000 XRP continues to increase, alongside the Bitcoin stabilization that Santiment tied to its $1.10–$1.15 scenario. Consistent growth among larger wallets, balanced against positive changes in the broader market environment, may be enough for the asset to continue its way toward $1.10–$1.15. On the other hand, stronger evidence of a positive trend shift would require XRP to create a new high and then break above the neckline of the possible double bottom.

As things stand, a clear contradiction is visible between the growth in the number of larger wallets and declining price dynamics. However, the $1.00 support level and chart pattern confirmation should not be ignored.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.