XRP Millionaire Wallets Rose Before 67% August Rally, Santiment Data Shows
The number of XRP addresses holding at least 1 million tokens increased sharply shortly before XRP began a 67% rally in August, according to blockchain analytics platform Santiment Intelligence.
Santiment data showed 85 new addresses reached the 1 million XRP threshold two days before the token’s August breakout. The increase lifted the number of qualifying addresses by 4.2% in a single day, based on records from the XRP Ledger (XRPL).
XRP subsequently climbed from approximately $0.98 on August 17 to $1.64 on August 21, representing a 67% increase over the four-day period.
XRP Millionaire Wallet Growth Came Before Rally
Santiment’s data compares XRP’s market price with the number of XRPL addresses holding at least 1 million XRP. The network had approximately 2,025 addresses meeting that threshold before the increase.
The addition of 85 addresses pushed the total toward 2,110, with the number later reaching approximately 2,117.
The timing has drawn attention because the growth in large-holder addresses occurred before the sharp price advance. Wallets containing 1 million XRP or more represent a relatively large concentration of tokens and can have a greater potential effect on available liquidity than smaller individual holdings.
However, the data does not establish that large XRP holders caused the August rally. The relationship shown by Santiment is a correlation between address growth and subsequent price performance.
Blockchain addresses also do not necessarily correspond one-to-one with individual investors. Exchanges, custodians and other entities can operate multiple wallets, while a single holder can distribute assets across several addresses without making additional purchases in the open market.
Million-XRP Addresses Remained Above 2,100
XRP later gave back part of its August advance, trading near $1.38 around the September endpoint shown on Santiment’s chart.
Despite the price correction, the number of addresses holding at least 1 million XRP remained above 2,100. That indicates the elevated count of large-holder addresses persisted even after XRP moved below its August peak.
Santiment has also linked its constructive view of XRP with developments around Ripple’s broader infrastructure investments, particularly in payments, private credit and institutional tokenization.
Ripple Builds Institutional Infrastructure Around XRPL
Ripple has backed an RLUSD-based fund intended to provide working-capital loans to fintech companies and payments businesses globally. Cicada Partners and Clearpool are involved in the initiative, which seeks to connect stablecoin settlement with tokenized private-credit markets.
Ripple has also invested in ZILO and Licuido, with the initiatives focused on areas including transfer-agency services, fund administration and collateral movement.
Those developments could expand the range of institutional applications connected to the XRPL ecosystem. However, greater network activity or institutional infrastructure does not automatically translate into increased demand for XRP itself.
Further evidence would be needed to determine whether the growth in large XRP addresses represents broader accumulation by separate investors. Indicators such as sustained spot-market buying, changes in exchange reserves and evidence concerning ownership of newly created addresses could provide additional context.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.