XRP Rich List Sees Surge in Million-XRP Wallets Amid Token's 70% Price Drop

The XRP Rich List has reported an increase in wallets holding at least 1 million XRP, despite the token's price drop by over 70% from its 2025 high. According to data from Santiment, the number of wallets with at least 1 million XRP rose from approximately 2,006 to 2,038 over the past three months.

This growth in large XRP wallets is a notable contrast to XRP's price performance, which has been impacted by its decline. However, it's essential to note that the increase in wallet count does not necessarily mean 32 new individual investors bought millions of XRP, as a single investor can control multiple wallets.

The XRP Ledger continues to show strong activity, with over 2.8 million transactions processed on August 5, representing an 86% increase from the previous week and 81% above its 30-day average. The growth in large wallets may indicate that some investors believe XRP is undervalued or are consolidating holdings.

Ripple's expansion of institutional infrastructure, including strategic investments in Zillow and Liquidnet, aims to bring traditional financial assets onto the XRP Ledger. However, it's crucial not to treat the increase in wallet count as a guaranteed bullish signal, as large investors can be wrong, and institutions may restructure their holdings without increasing their exposure.