XRP is showing potentially positive signs as the number of "millionaire" wallets, those holding over one million tokens, has increased for the first time since September 2025. According to data from Santiment, a well-known on-chain metrics provider, 42 new wallets have joined the ranks of XRP millionaires. This increase may reflect growing confidence among investors in XRP's future.
This shift comes after a period of decline in the number of large XRP holders. In fact, back in September 2025, Santiment reported a significant dumping trend among wallets holding between 10 million and 100 million XRP, raising concerns at the time about the sustainability of XRP's price. However, the recent increase suggests a possible reversal in sentiment among high-net-worth individuals.
The rise in XRP Ledger activity may be contributing to this renewed confidence. Santiment noted surging activity on the XRP Ledger, with interacting addresses averaging over 295,000 daily in the past week, significantly higher than the 3-month average of 35,000-40,000. This heightened network usage, along with the increasing number of large holders, could play a vital role in boosting XRP's performance.
While the increase in millionaire wallets is an encouraging sign, XRP's price has experienced some volatility. Over the past three weeks, XRP has seen a V-top reversal, dropping from $2.4 resistance to around $1.9, a 21% decrease. As of January 29, 2026, XRP was trading near $1.9, reflecting a slight loss of 0.19%.
Despite this price correction, there's renewed speculative interest among traders. Open interest tied to XRP futures contracts has seen a slight uptick, rising from $3.26 billion to $3.46 billion in the past 48 hours. This increase suggests that derivative traders are positioning themselves for a potential move.
The broader market context also plays a role. The Federal Reserve recently announced unchanged interest rates, with Chair Powell describing the current range as "neutral". This announcement has led to a neutral sentiment among investors, contributing to low volatility trading for XRP.
Looking ahead, XRP's price may challenge the multi-month support level of $1.78. A breakdown below this level could trigger further selling pressure, potentially pushing XRP down to retest support levels at $1.57. However, the increasing number of millionaire wallets suggests a potential for long-term growth.
It's important to note that the content here is for informational purposes only and should not be considered financial or investment advice.
