What to Know Santiment identified 85 new million-plus XRP addresses emerging two days before the token delivered its powerful 67% August price breakout. Millionaire addresses remained above 2
What to Know
- Santiment identified 85 new million-plus XRP addresses emerging two days before the token delivered its powerful 67% August price breakout.
- Millionaire addresses remained above 2,100 during XRP’s correction, although blockchain accounts do not necessarily represent separate investors or market purchases.
- Ripple’s RLUSD credit fund and investments in ZILO and Licuido aim to expand XRPL lending, tokenization, administration, and collateral infrastructure.
Blockchain analytics platform Santiment Intelligence has identified major XRP wallet growth shortly before the token’s August breakout. According to its data, 85 new addresses holding one million XRP appeared two days before prices surged.
This expansion increased the number of qualifying addresses by 4.2% within a single day across XRPL records. XRP advanced 67% between August 17 and August 21, rising from approximately $0.98 to $1.64 per token.
Santiment’s chart compares XRP’s price performance with addresses holding at least one million tokens on XRPL accounts. Before the increase, the network contained roughly 2,025 qualifying addresses, while 85 additions lifted the total near 2,110 and later 2,117.
Also Read: Ripple CEO Says Crypto Will Prevail With or Without Clarity Act
Large XRP Holders Positioned Before Market Rally
Crucially, the wallet expansion preceded the rally, suggesting that large holders positioned themselves before broader market demand strengthened. Million-plus wallets can absorb available supply, strengthen bids, and influence liquidity faster than smaller retail market participants.
However, the chart establishes a correlation between wallet growth and price performance without proving whales caused the breakout. Blockchain addresses do not always represent separate investors because exchanges and custodians often manage multiple operational wallets.
Moreover, one holder can distribute tokens among several accounts without purchasing additional XRP through open cryptocurrency markets. XRP later retreated from its August peak and traded near $1.38 around the chart’s September endpoint reading.
Nevertheless, million-plus addresses remained above 2,100, indicating their numbers stayed elevated during XRP’s subsequent market price correction. Santiment also connected its constructive outlook with Ripple’s investments supporting payments, private credit and institutional tokenization infrastructure.
Ripple Expands Institutional Infrastructure Around XRPL
Ripple recently backed an RLUSD-based fund designed to provide working-capital loans to fintech companies and payments businesses globally. Cicada Partners and Clearpool support the project, which aims to connect stablecoin settlement with tokenized private-credit markets.
Additionally, Ripple invested inZILO and Licuido to improve transfer-agency services, fund administration, and collateral movement capabilities. These developments could broaden XRPL’s institutional utility, although stronger network activity does not guarantee direct XRP demand. Further confirmation requires sustained spot buying, declining exchange reserves and evidence that separate investors control new addresses.
Also Read: Sam Bankman-Fried Asks Supreme Court to Overturn Fraud Conviction
The post XRP Millionaire Wallets Surged Before 67% Price Breakout, Santiment Data Reveal appeared first on 36Crypto.