XRP's Million-XRP Wallet Cohort Expands Amid Market Cap Contraction
The XRP Ledger's million-XRP wallet cohort has grown by 32 addresses over the past three months, despite a 29% contraction in XRP's market capitalization.
This accumulation of wealthier addresses suggests that stronger hands are absorbing supply during price weakness, potentially creating an asymmetric bullish setup for crypto traders and adoption.
The data contradicts the straightforward narrative of a summer price slide, as the cohort expanded instead of capitulating among large-scale holders. This pattern often maps to distribution logic where panic sellers hand off positions to better-capitalized or longer-duration buyers.
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, with seasoned market participants scaling in during fear.