The number of XRP (XRP) wallets holding more than 1 million tokens has grown by 42 since the start of the year, a development that crypto analytics platform Santiment called "an encouraging sign for the long term" even as broader market sentiment remains weak and analysts express divided opinions on the asset's near-term trajectory.

What Happened: Millionaire Wallets Return

Santiment reported on Wednesday that 42 additional wallets holding over 1 million XRP have "returned to the ledger" since Jan. 1. The platform noted that XRP's price has declined only 4% since the start of 2026, while these large-holder wallets are rising for the first time since September.

With XRP trading at $1.87, each million-token wallet represents roughly $1.87 million in holdings. Accumulation by "smart money" traders has risen 11.55% over the past 30 days.

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Why It Matters: Analysts Remain Split

Crypto trader CW said on Wednesday that XRP appears "likely to break through the selling wall soon," arguing that if broken, the price could reach $2.30.

Asset manager 21Shares recently suggested that XRP's pattern of multi-year compression followed by "sharp uncoiling events," combined with regulatory clarity and institutional support, could leave the network "primed for continued price appreciation."

However, Swyftx lead analyst Pav Hundal has expressed caution, warning that "further upside becomes too reliant on narrative" and that XRP's price could face near-term pressure if there are "any unpleasant surprises" around the US CLARITY Act voting process.

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