As XRP faced a sharp price decline, large investors, commonly known as whales, took advantage of the downturn by amassing massive amounts of the cryptocurrency in anticipation of a market rebound. This accumulation led to a significant rise in the number of wallets holding substantial XRP holdings within a short period.
The broader crypto market, including XRP, experienced a notable crash earlier this month, largely due to trade tariffs imposed by President Trump on Canada, China, and Mexico. While the tariffs were introduced to curb illegal migration and drug trafficking, they triggered fears of a potential trade war, prompting investors to offload their crypto assets, causing widespread market volatility.
Surge in XRP Whale Wallets
Market analyst and XRP community member Dom (Traderview on X) highlighted a sharp increase in the number of wallets holding over 1 million XRP following the February 3 price dip. His data revealed that 53 new wallets holding over 1 million XRP were created overnight.
A chart shared by Dom showed a parabolic increase in these whale wallets over the past year. In January 2025, there were slightly over 2,200 such wallets, but by early February, this number had surged past 2,700. The increase suggests that despite the market decline, large investors remained optimistic about XRP’s long-term value and took advantage of the dip to accumulate more tokens.
Retail Investors Also Increase XRP Holdings
Not only did whale wallets grow, but smaller investors also seized the opportunity to expand their XRP holdings. On-chain data revealed that wallets containing at least 100 XRP saw a notable increase, rising from 1.6 million to over 1.74 million in the last year. The most significant surge in these wallets occurred following the February 3 crash, suggesting that retail investors also viewed the dip as a buying opportunity.
XRP Outpaces Bitcoin and Ethereum in Wallet Growth
Interestingly, while XRP saw an increase in wallets holding significant amounts, Bitcoin and Ethereum did not experience the same trend. Dom’s data showed that Bitcoin wallets holding over 0.001 BTC declined, dropping from 24.7 million to about 23.9 million.
Ethereum, on the other hand, saw only modest growth in wallets holding over 0.1 ETH, rising from just below 5.16 million to a little over 5.2 million. This contrast highlights growing investor interest in XRP over other major cryptocurrencies.
Conclusion
The recent accumulation of XRP by both whale and retail investors suggests strong confidence in its long-term potential, even amid market uncertainty. With XRP currently trading around $2.43, the increased adoption and growing wallet numbers indicate that investors are positioning themselves for a potential breakout toward new highs.
Anthony Pedro
Anthony Pedro is a seasoned crypto writer with a deep passion for blockchain technology and digital currencies. With over 4 years of experience in the cryptocurrency space, Anthony has become a trusted voice, offering insightful analysis and commentary on the latest trends, innovations, and market movements. When not writing, he is actively engaged in the crypto community, attending conferences, advising blockchain startups, and experimenting with new projects.