XRP Millionaire Wallets Surge Despite Token’s 4% January Drop

XRP drops roughly 4%. The token trades near $1.90 as January winds down, but something interesting happens behind the scenes. Big holders keep buying.

Santiment data from January 29 shows 42 new wallets now hold at least one million XRP tokens since the year started. That’s the first time millionaire wallets grew since September 2025. Pretty wild timing, considering prices fell during the same period. These whale movements often signal what’s coming next, though nobody can say for sure. The token currently sits at $1.88, down 2% in 24 hours per CoinGecko data. It’s trading about 40% below last year’s peak levels.

Technical indicators look murky.

XRP trades roughly 25% below its 200-day moving average near $2.50, which isn’t great news for bulls. The 30-day Sharpe Ratio hovers around zero – that’s basically volatility without reward. Analysts see the token stuck in a $1.80 to $2.00 range, with resistance at $2.00 being the key level to watch. Breaking above that could change everything.

21Shares released projections recently that map out XRP’s potential paths forward. Their base case targets $2.45, while the bull scenario reaches $2.70. Bear case? That drops to $1.60. The firm factors in regulatory changes after the SEC settlement last August, which reopened U.S. institutional access that had been blocked for years.

Spot XRP ETFs pulled in over $1.3 billion in assets since launching. But 21Shares warns that continuous inflows, tokenization growth, and adoption of Ripple’s RLUSD stablecoin remain crucial for higher valuations. The market stays cautious. Ripple’s spokesperson didn’t respond to requests for comment on these developments.

Trading activity keeps drawing attention.

CoinDesk noted on January 28 that volumes across major exchanges saw a slight uptick, despite prices hovering below key resistance. That suggests market participants stay engaged, probably positioning for future moves. While the price remains subdued, the action underneath tells a different story.

Ripple’s legal challenges still cast shadows over the token’s path. The SEC lawsuit settlement in August 2025 was huge, but implications keep unfolding. Legal analyst John Deaton said the settlement opened doors for institutional re-entry, though the full impact on adoption and market dynamics is still playing out. He estimates the effects won’t be fully clear for months.

Investor sentiment around XRP stays mixed, according to a January 27 Glassnode report. Some investors increase holdings while others diversify into different assets amid uncertainty. That split strategy shows the cautious optimism characterizing much of the crypto market right now. Nobody wants to miss out, but nobody wants to get burned either.

No official statements came from Ripple about these developments. The company’s silence leaves analysts speculating on strategic responses to the evolving landscape. Whether Ripple addresses these shifts publicly or continues operating under the radar remains unclear.

Crypto analyst Michaël van de Poppe commented on Twitter January 26 about XRP’s price action. Van de Poppe: “XRP is in a crucial phase right now.” He emphasized the importance of the $2.00 resistance level, saying breaking above could trigger bullish momentum. His analysis reflects broader trader sentiment watching that price threshold closely.

Messari data from January 25 revealed XRP’s daily trading volume stayed relatively stable around $1 billion. Steady volume suggests consistent interest despite price stagnation. The data also noted XRP’s market cap stands at approximately $94 billion, keeping it as a significant crypto market player. That’s serious money staying put.

Grayscale Investments announced January 24 it increased XRP holdings in its Digital Large Cap Fund. The move highlights continued institutional interest despite recent price challenges. Grayscale said its decision was based on a long-term view of XRP’s potential, particularly in cross-border payments. They’re betting big on utility over speculation.

Bloomberg reported January 23 that Ripple’s partnerships with financial institutions continue expanding, with new collaborations in Asia and the Middle East. These partnerships are part of Ripple’s strategy to enhance XRP Ledger utility for real-time gross settlement systems. The report said these developments could play a crucial role in XRP’s future market performance, though timing remains uncertain.

Ripple announced a strategic initiative January 22 aimed at bolstering XRP’s role in remittance. The move involves collaborating with several fintech companies to enhance cross-border payment solutions. CEO Brad Garlinghouse: “These partnerships will help drive XRP adoption in key markets.” He didn’t specify which markets or timeline for rollout.

IntoTheBlock data from January 20 shows XRP network activity saw a notable increase. Daily active addresses rose approximately 15% since year-start. The uptick suggests growing user engagement with XRP Ledger, potentially laying groundwork for further network utilization. More users typically means more demand.

The Block revealed January 19 that XRP market sentiment remains cautiously optimistic. While some investors stay skeptical due to past volatility, others see potential in the token’s use case and recent developments. Ripple’s continuous ecosystem expansion efforts drive much of that sentiment, according to the analysis.

Crypto analyst Lark Davis said in a January 18 interview that XRP maintaining current support levels is crucial. Davis: “Staying above $1.80 could provide foundation for future rallies, especially if broader market conditions improve.” His comments reflect keen trader interest in XRP’s short-term technical performance. The $1.80 level has held so far, but markets can shift fast.