The number of XRP Ledger wallets holding at least 10,000 XRP rose to 332,230, a record high.

Cryptopolitan, a blockchain media outlet, reported on Tuesday that on-chain data firm Santiment said the number of wallets meeting that threshold has reached an all-time high as large XRP holders keep accumulating.

The key is that the rise in large holders has not faltered even during a price adjustment phase. Santiment pointed out that the number of wallets holding at least 10,000 XRP has risen steadily since June 2024. It said the pattern is closer to consistent accumulation than the sharp jumps in wallet counts seen during speculative buying.

XRP is currently trading below its mid-2025 high of about $3.65. XRP is about 60 percent below its all-time high, but the number of high-balance wallets has increased despite price weakness.

This trend aligns with a typical pattern in which the holder mix changes. It suggests holdings sold by short-term participants who sell at a loss can shift to longer-term participants at lower prices. A steady rise in the number of large-balance wallets is interpreted as a signal consistent with that shift.

It was also noted that there are not many holders in profit. As of April, the share of total XRP holdings in profit stood at 43.4 percent. Since late 2025, daily realised losses ranged from $20 million to $110 million. It indicates that while selling continued in loss territory, large holders have been building positions at current price levels.

The total number of wallets across the network also increased. Total wallets on the XRP Ledger surpassed 8.1 million in early April. That figure counts all created accounts, not only active users. Most accounts are small-balance wallets, but the metric the market watches is the rise in addresses with large amounts of funds.

On-chain analysis views the growth rate of network wallets as an indicator of long-term confidence. In particular, an increase in high-balance addresses shows that participants with meaningful capital are raising exposure even in sideways or falling markets. Santiment is also tracking such changes through supply distribution by XRP holding bracket.

Trading activity has not dried up completely. XRP's 24-hour trading volume stood at $3.86 billion in early April. In the past, an increase in the number of holders and an expansion in trading volume sometimes appeared ahead of price gains. Still, it is difficult to conclude that the wallet accumulation trend will directly lead to a rise in XRP's price.

Market participants are focused on whether this accumulation trend will translate into a price rebound. The trend confirmed so far is that large XRP holders continue to gather coins even during weak periods. They may continue to expand positions at current levels, but the actual price response depends on market liquidity and shifts in investor sentiment.