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XRP Price Slips Below $1.28 Amid 11% Decline, But On-Chain Data Suggests Accumulation

Guavy AI Editorial Team
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XRP's price has fallen below $1.28 after a sharp decline of over 11% in 24 hours, but on-chain data suggests that larger holders have been accumulating XRP before the rally.

According to Santiment data, 85 new addresses holding at least 1 million XRP were added to the XRP Ledger within one day, lifting the number of millionaire wallets by 4.2% just two days before XRP started a 67% rally between August 17 and August 21.

The timing links the wallet increase with a period of rapid accumulation among larger holders, which can move more liquidity than smaller accounts and absorb a larger amount of circulating supply.

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