$XRP Million-Tier Wallets Absorb Supply Amid Market Cap Contraction

The $XRP Ledger's million-plus token cohort has shown a quiet accumulation signal that contradicts the token's slumping valuation. Over a three-month stretch, wallets holding at least one million XRP collectively grew by 32 addresses, while the market capitalization contracted by 29%.

This divergence suggests that selling pressure was met with sustained demand from wealthy addresses rather than broad exit liquidity. Instead of capitulation among large-scale holders, the cohort expanded, a pattern often associated with distribution logic where panic sellers hand off positions to better-capitalized or longer-duration buyers.

The $XRP's spot price has struggled to hold meaningful levels for months, weighed down by wider altcoin rotation and a lack of retail momentum. However, the behavior at the top of the holder curve is telling a different story, indicating that stronger hands are absorbing panic.