The cryptocurrency market continues to navigate a period of uncertainty, yet amid the volatility, certain digital assets are quietly drawing strong interest from large investors. XRP, the native token of the Ripple network, stands out as one of these focal points. Despite a challenging year marked by price declines and regulatory scrutiny, the number of wallets holding substantial amounts of XRP—particularly 1 million or more—is on the rise. This growing accumulation suggests that institutional and whale investors may still see long-term value in the asset.
Over 2,000 Wallets Now Hold at Least 1 Million XRP
As of mid-2025, more than 2,000 crypto wallets hold a minimum of 1 million XRP. This figure has grown steadily since the start of the year, climbing from 1,957 to 2,043—a net increase of 86 large holdings. This upward trend reflects sustained confidence among high-net-worth individuals and institutional players, even as broader market sentiment fluctuates.
Within this group, wallets holding between 1 million and 10 million XRP have also expanded. The count rose from 1,570 to 1,586 during the same period—an increase of 16 addresses. While this growth may seem modest, it underscores consistent accumulation rather than speculative trading behavior.
More notably, the segment holding between 10 million and 100 million XRP has seen the most dramatic rise. The number of such addresses surged from 190 to 259, an increase of 69 wallets. This sharp growth indicates that major players are not only holding but actively increasing their exposure to XRP, potentially positioning for future price appreciation or utility expansion.
In contrast, ultra-large holders—those with between 100 million and 1 billion XRP—have remained stable at 38 addresses. The lack of movement in this tier suggests that the largest whales are neither selling nor significantly adding to their positions, possibly waiting for clearer market signals or regulatory developments.
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Why Are Whales Accumulating XRP?
The persistent accumulation of XRP by large investors raises an important question: What drives confidence in an asset that’s underperformed most major cryptocurrencies this year?
One possible explanation lies in XRP’s unique use case. Unlike many speculative tokens, XRP is designed for fast, low-cost cross-border payments. Ripple has established partnerships with financial institutions worldwide, leveraging XRP as a bridge currency in international remittances. This real-world application provides a fundamental value proposition that resonates with long-term investors.
Additionally, ongoing legal clarity around XRP’s status as a non-security (in certain jurisdictions) may be contributing to renewed investor interest. Although regulatory uncertainty persists in some regions, favorable court rulings in the U.S. have helped stabilize perceptions about XRP’s compliance outlook.
Another factor could be valuation. With XRP trading around $0.46—a significant drop from its early-2024 high above $0.60—many investors may view it as undervalued relative to its potential. Compared to Bitcoin’s 41% year-to-date gain and Ethereum’s 43.6% rise, XRP’s underperformance might represent a buying opportunity for those with a contrarian outlook.
XRP’s Challenging Performance in 2025
Despite growing whale activity, XRP has faced a difficult year in terms of price performance. At the beginning of 2025, XRP was trading above $0.60, but it quickly lost momentum. It dipped below the $0.50 psychological support level and currently hovers around $0.46—a decline of approximately 24.68% year-to-date.
This downturn contrasts sharply with the broader crypto market’s bullish momentum. Bitcoin and Ethereum have both posted strong gains, fueled by spot ETF approvals, increased institutional adoption, and macroeconomic factors like rate cut expectations. In comparison, XRP has struggled to gain similar traction.
Several factors may explain this lag:
- Limited Exchange Listings: Some major exchanges still restrict XRP trading due to past regulatory concerns.
- Slower Ecosystem Growth: Unlike Ethereum or Solana, XRP lacks a robust decentralized application (dApp) ecosystem.
- Market Sentiment: Retail investor enthusiasm has largely shifted toward meme coins and Layer-1 innovations.
Yet, despite these headwinds, the rising number of large holdings suggests that sophisticated investors are looking beyond short-term sentiment.
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FAQs About XRP Ownership and Market Trends
Q: How many people actually own 1 million XRP?
A: While we can’t know exact identities due to blockchain pseudonymity, over 2,000 unique addresses currently hold at least 1 million XRP. These likely represent a mix of institutions, exchanges, and high-net-worth individuals.
Q: Is XRP considered a good investment in 2025?
A: It depends on your strategy. For long-term investors focused on payment solutions and financial infrastructure, XRP offers compelling use cases. However, short-term volatility and regulatory risks mean it’s not without risk.
Q: What causes large investors to accumulate XRP?
A: Key drivers include its role in cross-border payments, Ripple’s growing network of financial partners, improving regulatory clarity, and perceived undervaluation compared to peers.
Q: Can XRP recover its losses in 2025?
A: Recovery is possible if broader market conditions improve and Ripple expands its real-world adoption. Whale accumulation often precedes price rebounds, though timing remains uncertain.
Q: Are there risks in buying XRP now?
A: Yes. Regulatory actions in certain countries, competition from other payment-focused blockchains, and low retail momentum could limit upside potential.
Q: Where should I store large amounts of XRP securely?
A: Use reputable non-custodial wallets or cold storage solutions. Always enable two-factor authentication and avoid keeping large holdings on exchanges.
The Bigger Picture: Accumulation Before a Potential Breakout?
Historically, periods of heavy accumulation by large wallets have often preceded significant price movements in crypto markets. When whales buy during downturns, it can signal anticipation of future growth—whether driven by product launches, regulatory wins, or macroeconomic shifts.
In XRP’s case, the growing number of large holders may indicate that institutional confidence remains strong despite retail disinterest. If Ripple continues to expand its global payment network and regulatory hurdles ease further, XRP could see renewed upward pressure.
Moreover, any integration of XRP into new financial platforms—or increased adoption by banks using RippleNet—could act as catalysts for price appreciation.
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Final Thoughts
While XRP has underperformed major cryptocurrencies in 2025, the data reveals a quiet but powerful trend: large investors are steadily accumulating the asset. With over 2,000 wallets now holding at least 1 million XRP—and significant growth in the 10M–100M tier—the message from the market’s smart money appears clear.
For those watching closely, this accumulation phase could represent a strategic opportunity. Whether you're drawn to its utility in global payments or its potential for future growth, understanding whale behavior and on-chain trends is essential for informed decision-making.
As always in crypto, patience and research pay off.
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