XRP Whales Accumulate as 42 New Millionaire Wallets Form Below $2

This article was first published on The Bit Journal. XRP has entered 2026 trading in a narrow range, struggling to gain momentum as it remains capped below the $2 level. Prices have remained subdued; however, blockchain market signals indicate that XRP accumulation is happening under the carpet, especially among high-net-worth consumers.

XRP Whales Signals Market Rbound

On-chain analytics firm Santiment reports that the XRP network has been accredited with 42 new millionaire wallets since the beginning of 2026. These addresses that contain at least 1 million XRP can be characterized as the first rise in this group since September 2025. The resurgence of this trend is an indication of new XRP accumulation, despite the token being slightly below on a year-to-date basis.

Traditionally, market structure change has been preceded by periods of sustained XRP accumulation during times of market weakness. Consolidation phases are usually used by large holders to establish an exposure so that they are in a position to be ahead of the wider participation. Such a dynamic can change the factors in an internal market materially, in particular, when the demand becomes stable and the supply starts to decrease.

Technical Indicators Point to XRP Consolidation

Irrespective of these accumulation indicators, XRP has weak technical background. The token is trading at around $1.80, much lower than the 200-day moving average that is around 2.54. This gap continues to skew the long-term direction to one of consolidation, as opposed to a valid uptrend, deterring momentum traders to resume buying in the market.

This cautious environment is reflected in risk-adjusted performance metrics. According to CryptoQuant data, the 30-day Sharpe Ratio of XRP is close to zero and is approximately 0.034, which indicates that recent returns have done very little to compensate the investor against volatility. There are other signs to support the narrative of consolidation. A Sharpe Z-Score of 0.70 indicates a better quality of returns compared to recent history whereas a Sharpe Momentum of 0.03 over 7 days is consistent with a phase of building the base and not breaking out.

XRP Accumulation Clashes With Weak Technicals

This is the tension between weak technicals and ongoing XRP accumulation that characterizes the present market structure. During range-bound markets, the rallies are usually sold, whereas the pullbacks in trending markets are normally purchased. XRP now seems to be experimenting as to which of these regimes will prevail in 2026.

The accumulation thesis is reinforced by supply-side data. In a different analysis by CryptoQuant, the percentage of XRP on exchanges is at a “bottom zone”, meaning that there is no longer any sell-side pressure after the continuing outflows. The effect of the XRP accumulation is frequently increased by the decline of the exchange balances because there are fewer tokens to satisfy the new demand.

XRPL DEX Activity Strengthens Accumulation Thesis

However, analysts warn that volume is an ingredient that is still lacking. In the absence of an obvious increase in trading activity, the upside movements will tend to manifest in temporary relief rallies, rather than lasting trends. Thin markets move fast due to their ability to respond to demand and they are prone to failure in cases where the resistance levels are not followed through with acquiring.

Other than the price and supply, network usage gives an extra layer of support. According to CryptoQuant data, XRP Ledger decentralized exchange activity has increased sharply at the beginning of the year 2026, and the 14-day moving average of DEX transactions is about 1.014 million indicating a 13-month high. This consistent increase implies that liquidity is becoming more entrenched in the ecosystem and this strengthens the underpinnings of the continued accumulation of XRP.

ETF Demand and Supply Shape XRP Outlook

Moving forward, asset manager 21Shares identified possible catalysts to a repricing in the later part of the year. The company emphasized initial demand of U.S. spot XRP ETFs, which purportedly raised over 1.3 billion dollars in assets in their initial one month of operation. It also referred to exchange reserves at an all-time low, which positions the arrangement as exposed to a supply shock, should XRP stockpiling by institutional purchasers proceed.

On the adoption side, 21Shares noted that the number of users of the RLUSD stablecoin increased, and XRPL DeFi activity was spreading as indicators of more intense involvement in the ecosystem. According to these variables, the firm is forecasting a base-case 2026 price of $2.45 with a bull case of 2.69 and a bear case of 1.60 indicating the importance of sustained XRP accumulation on future yearly results.

Conclusion

As 2026 unfolds, XRP accumulation by whales and growing institutional interest suggest the market could be quietly preparing for a repricing. Although the technical indicators are kept at a very low level, the decreasing exchange supply, the increase in the network activity and the demand in ETFs show that it has the possibility to keep rising and the direction of XRP is once again reduced to the constant accumulation.

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Summary

• XRP is trading lower than 2, although whales are accumulating well.
• Technicals are still weak, which is an indicator of market consolidation.
• Falling exchange supply and rising XRPL DEX activity support accumulation.
• ETFs and DeFi adoption could drive a potential repricing.

Glossary of Key Terms

XRP Accumulation:  Steady buying by large holders (whales).

Whales:  Investors holding large amounts of XRP.

Sharpe Ratio:  Measures returns relative to risk.

Range-Bound Market:  Price trading within a horizontal range.

Volume:  Amount of XRP traded in a period.

ETF:  Investment fund tracking XRP price.

RLUSD Stablecoin:  USD-pegged token on XRPL.

DeFi:  Decentralized financial applications on XRPL.

Frequently Asked Questions about XRP whales

1: What is XRP accumulation?

Consistent purchases by big players (whales), which are indicative of a future rise in price.

2: How are whales affecting XRP in 2026?

Whales are adding XRP to millionaire wallets, supporting market stability and potential repricing.

3: How do ETFs and DeFi impact XRP?

ETFs and rising DeFi activity boost demand, strengthening accumulation and future price potential.

References

Cryptoquant

21Shares

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