$XRP wallets holding at least $1 million worth of $XRP increased shortly before the coin jumped 67% in August, according to analytics platform Santiment.
Santiment said 85 new wallets holding at least 1 million $XRP appeared just two days before $XRP rose sharply between August 17 and August 21. This suggests that large $XRP holders were buying more before the price increase.
85 New Millionaire $XRP Wallets Appeared Before the Breakout
Santiment reported that 85 new wallets holding at least 1 million $XRP appeared shortly before $XRP’s price jumped 67% between August 17 and August 21.
Wallets holding 1 million $XRP or more are a small part of the $XRP community, but they can have a big impact on the market because large holders control a significant amount of $XRP. When these large holders buy more $XRP, they reduce the amount available for trading and increase buying pressure.
Santiment Highlights $RLUSD and Institutional Activity on XRPL
Meanwhile, Santiment also pointed to growing activity on the $XRP Ledger (XRPL) as another positive development for $XRP. The platform highlighted Ripple’s support for an $RLUSD credit fund that lends to fintech and payment companies using XRPL.
Santiment also mentioned Ripple’s investments in ZILO and Licuido, which are helping add tokenization, asset transfers, and other financial services to the XRPL network. These developments suggest that $XRP’s story is about more than just its price. Growth in stablecoins, lending, and tokenized assets increases the usefulness of the $XRP Ledger.
Santiment said that the growth in large $XRP wallets, $RLUSD activity, and institutional projects support the network through the rest of 2026. However, these developments do not guarantee that $XRP’s price will rise, as the cryptocurrency is still affected by overall market conditions and resistance levels.
Analyst Warns $XRP Could Fall Toward $1.10
While Santiment pointed to positive developments for $XRP, crypto analyst Casi has a more cautious view. Casi said $XRP has fallen below an important 0.5 Fibonacci level. This means the analyst’s previous expectation of a possible move toward $1.78 is no longer valid.
For $XRP to regain strength, Casi believes it needs to move back above the 0.618 Fibonacci level, around $1.65. Until that happens, the analyst is watching $1.10 as an important support level. Casi says this level becomes a target if $XRP’s current price decline continues.
Another level to watch is around $0.87, which will become relevant if the decline gets worse. If $XRP starts a new upward trend, the $1.10 level could also be important in showing whether buyers are willing to step in and support the price.
In sum, Santiment’s data shows that large $XRP holders increased their holdings before the August price jump. However, analyst Casi says $XRP may still fall further unless it recovers important price levels.