XRP Price Rises 70% Before 85 New Wallets Hold 1M+ XRP

Ripple (XRP) rose approximately 70% between August 17 and 21. Prior to this price surge, 85 new addresses holding more than 1 million XRP each appeared on the blockchain. Blockchain analytics firm Sentiment reported that two days before the price increase, 85 new wallets with balances exceeding 1 million XRP emerged on the XRPL (XRP Ledger). This follows a previous instance during a bearish period when 32 large wallets holding over 1 million XRP each also increased. At that time, analysts noted it was difficult to definitively link wallet count increases to actual investor inflows or price rebounds. Wallets are addresses used to store and trade assets on the XRP Ledger. The number of addresses holding more than 1 million XRP serves as an indicator of how many accounts have substantial balances, though this does not necessarily reflect the actual number of owners. Exchanges and custodians can distribute client assets across multiple addresses or manage them collectively. Even if a single owner splits their holdings across several wallets, the total address count may increase. Thus, it is difficult to conclude that the 85 new addresses represent 85 new investors. It remains unclear whether these increases reflect new purchases or existing asset movements. Sentiment's data shows a temporal correlation between large wallet growth and price increases, but does not prove causation. The relationship between subsequent price movements and the number of wallets holding over 1 million XRP cannot be confirmed from this metric alone. Such indicators can serve as reference points for monitoring large holders' activity, though they should not be used in isolation to predict future price direction due to the inability to distinguish between actual owners, transaction purposes, or exchange-held assets. This data merely shows that large wallet counts and price movements coincided during this period on XRP's market, suggesting further analysis of address changes alongside actual fund flows and transaction intent is needed for better insights.