Over a decade after its launch, XRP is quietly hitting some serious on-chain milestones—and whale activity is leading the way.
According to recent data from analytics firm Santiment, the number of wallets holding at least 1 million XRP has just surpassed 2,700 for the first time in the token's 12-year history. That’s a massive sign of growing concentration among what analysts call “whales” (typically institutional players or long-term holders with deep pockets), especially given XRP's relatively modest price action this year.
At current market levels, 1 million XRP is worth roughly $2.2 million, meaning these whale wallets represent significant conviction. And they’re not alone—network activity is booming as well. Daily active addresses on the XRP Ledger have surged from around 40,000 to nearly 295,000 in recent weeks. That’s a sevenfold increase in users interacting with the blockchain on a daily basis—an indicator often associated with increased utility, not just price speculation.
This isn’t just noise. It’s happening in the context of renewed interest in XRP from both institutional and retail participants. Ripple, the company most closely associated with XRP, has been pushing ahead with new enterprise solutions, tokenization projects, and global payments initiatives. In parallel, DeFi experimentation and new financial instruments built on the XRP Ledger are attracting a new wave of builders and liquidity.
Despite all of this, XRP’s price has remained relatively stable, hovering around $2.23–$2.24, with about 7–8% gains year to date. That’s modest, especially when compared to the explosive rallies in other altcoins. But some argue that’s exactly what makes this moment noteworthy: whales and power users appear to be accumulating under the radar, not chasing hype, but preparing for what could come next.
And what could come next? One major catalyst on the horizon is a pending legal decision in the long-running SEC vs. Ripple case. A final ruling could clear up the token’s regulatory status in the U.S. and potentially open the doors for broader institutional adoption—perhaps even XRP-based ETFs or structured investment products.
There are also signs of growing institutional appetite for XRP-powered infrastructure. Recent announcements about tokenized U.S. Treasury offerings built on the XRP Ledger (by firms like VivoPower and Ondo Finance) suggest a pivot toward real-world asset integration. If that trend accelerates, XRP could be positioned as more than just a legacy crypto—it could become a core piece of the tokenized finance puzzle.
Ultimately, the rise in whale holdings is a signal. Whether you see it as bullish momentum, insider confidence, or the beginning of a new wave of adoption, it’s clear that XRP’s story is far from over. In fact, if the data holds, the next chapter might just be its most important yet.