XRP Rich List Defies Bear Market: Million-XRP Wallets Rise

The XRP Rich List has shown growth in million-XRP wallets despite a significant price drop. According to data from Santiment, the number of addresses holding at least 1 million XRP rose by 32, from approximately 2,006 to 2,038, over the past three months.

This increase occurred as XRP's market capitalization fell by about 29%. The contrast between XRP's price performance and the behavior of its largest wallets is notable, but it's essential to consider that a single investor can control multiple wallets, while exchanges, institutions, and custodians can operate multiple addresses.

The XRP Ledger has seen strong network activity, with over 2.8 million transactions processed on August 5, which was about 86% higher than the previous week and more than 81% above its 30-day average. Active accounts also increased by more than 5% over the previous month.