Interest from large investors in XRP is starting to recover, even against the backdrop of the token’s price decline. On-chain data shows an increase in the number of wallets with large balances, and exchange-traded funds for XRP continue to attract capital, despite overall caution in the crypto market.
Since the beginning of the month, XRP has dropped by about 4%. Nevertheless, investor behavior indicates hidden demand that is not yet reflected in the price.
Large Holders Are Returning
According to analytics platform Santiment, the number of wallets holding at least 1 million XRP increased for the first time since September of last year. In January, their number grew by 42 and reached 2,016 addresses, ending a four-month period of decline.
The growth in the number of “million” wallets is traditionally seen as a sign of long-term interest from large market participants. Such investors typically do not react to short-term price fluctuations and build positions with a horizon of months or years.
XRP is used by the payment company Ripple for cross-border transfers, and interest in the token from institutional and large private investors remains steady.
XRP ETFs Attract Capital
Another positive signal is the inflow of funds into spot XRP ETFs traded in the US. According to SoSoValue, these funds attracted a net inflow of $91.7 million in January.
For comparison, Bitcoin ETFs in the same period saw a net outflow of about $278 million, continuing the trend from the end of 2025, when investors withdrew over $4 billion from them. Against this backdrop, XRP stands out as a notable exception.
In November and December of last year, XRP ETFs already attracted $666 million and $499 million, respectively, confirming stable interest from institutional investors.
Price Lags Behind Fundamental Signals
Despite positive on-chain metrics and capital inflows into funds, the price of XRP remains under pressure. The token is trading below its 50-day moving average, and attempts to rally regularly fade near the $2 level.
This dynamic suggests that the market is not yet ready for aggressive growth. Most likely, large players are accumulating positions without driving up the price, waiting for a more favorable market environment.
Such divergence between investor behavior and price has been observed in XRP before. In the past, these periods often led to a phase of prolonged consolidation, followed by a sharper move — however, the exact timing always remained uncertain.
What’s Next?
For now, XRP remains squeezed between improving fundamentals and overall caution in the crypto market. Without a recovery in momentum for Bitcoin and Ethereum, it will be difficult for the token to turn accumulation by large investors into sustained price growth.
Nevertheless, the growth in the number of large wallets and steady inflows into ETFs are forming a foundation that could play a key role when market conditions change.
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