Large holding wallets increased rapidly just before XRP surged 67 percent in August, data showed.

On Sept. 16, blockchain outlet The Crypto Basic reported that on-chain analytics platform Santiment said 85 new wallets holding at least 1 million XRP were created two days before XRP surged from Aug. 17 to Aug. 21.

Santiment viewed the trend as suggesting the possibility of advance buying by large holders. Wallets holding at least 1 million XRP account for a small share of the overall XRP community, but they hold sizable volumes and have a large impact on the market. If large holders buy more XRP, tradable supply can shrink, which can increase buying pressure.

Expanding on-chain activity was also cited. Santiment presented increased activity on the XRP Ledger (XRPL) as a positive signal. Ripple is supporting the RLUSD credit fund that backs loans to fintech and payments companies using XRPL.

Ripple's investments were also linked to broader use of XRPL. It said that Ripple's investments in ZILO and Licuido are extending a trend in which tokenisation, asset transfers and other financial services are being added to the XRPL network. Santiment said the XRP narrative goes beyond simple price moves. Growth in stablecoins, lending and tokenised assets was presented as a factor boosting real-world usability of the XRP Ledger.

It also noted that such changes do not guarantee immediate price gains. Broader crypto market trends and resistance zones still affect the XRP price.

A more cautious view also emerged on price. Crypto analyst Kassy said XRP has fallen below the key 0.5 Fibonacci level. As a result, she said the previously presented bullish scenario toward $1.78 is no longer valid.

Kassy then said XRP would need to climb back above around $1.65, the 0.618 Fibonacci level, to regain strength. Until then, she is watching $1.10 as the key support level. She said that if the current price decline continues, $1.10 could become the next target zone. If losses deepen, $0.87 could also emerge as an important area, and even if an upward move forms again, $1.10 was presented as a price level to gauge whether buying demand is flowing in.

The latest move is drawing attention because it combined an increase in large wallets ahead of an XRP price surge with an expansion of financial services on XRPL. Separate from price, whether network usage and institutional projects are growing at the same time is emerging as another yardstick for evaluating XRP.

Still getting over that sudden +67% $XRP price breakout? The ledger’s millionaire wallets moved first. The chart shows 85 new 1M+ XRP addresses appearing just 2 days before XRP’s 67% breakout from Aug. 17 to Aug. 21. Million-plus wallets can absorb supply, deepen bids, and… pic.twitter.com/5FxTFRKlUV