XRP Whale Accumulation Intensifies as Price Tests Key Support, On-Chain Metrics Show Divergence

According to recent data from blockchain intelligence platform Santiment, the XRP Ledger added 32 new millionaire wallets—addresses holding more than one million tokens—over approximately three months. This accumulation trend stands in stark contrast to broader bearish momentum, which saw XRP’s price decline to its lowest level since 2024, briefly testing the critical $1 demand zone.

During the same period, the asset’s value fell roughly 29%, yet high-net-worth investors continued expanding their positions. Concurrently, on-chain activity on the XRP Ledger surged 33%, with August 11, 2026 marking the busiest day in six months. Daily active addresses climbed to approximately 35,700 in August, up from roughly 26,400 in July 2026.

Fresh XRP Activity Linked To Seasoned Investors

The spike in network activity is primarily attributable to existing XRP holders rather than an influx of new retail participants. With no significant wave of fresh wallet creation, the August uptick reflects the re-engagement of long-term stakeholders—a dynamic that underscores XRP’s profile as a long-term investment vehicle.

From a technical standpoint, XRP has been trading within a falling wedge pattern bounded between $1 and $3. However, deeper on-chain signals suggest significant volatility may be imminent. The direction of the eventual breakout remains the key question; spot trading volumes have yet to materially recover, registering only $858 million over the prior 24 hours, per CoinGecko data.

The futures market tells a more aggressive story: leveraged traders posted $1.49 billion in 24-hour volume, yet bulls suffered disproportionate losses. Of $1.85 million in daily liquidations, $1.77 million were long positions. The aggregate long-to-short ratio sits at 0.92, indicating a slight bias toward short-selling. Notably, Binance traders remain notably bullish, maintaining a long-to-short ratio of 3.0225 on the exchange, according to real-time data from CoinGlass.

The concentration of millionaire wallets may be linked to regulatory progress and adoption projections. Ripple has been a significant supporter of the CLARITY Act, a landmark draft bill slated for mid-September that could establish a definitive regulatory framework for digital assets in the United States.

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