While the XRP market started the new year weakly on the price side, on-chain data points to a different picture behind the scenes. XRP, which lost approximately 4 percent of its value throughout January, is producing signs of recovery in major investor behavior despite short-term selling pressure. Santiment data reveals that the number of high-balance wallets, which has been declining for a long time, has increased for the first time. In the same period, capital flows towards XRP-focused ETFs traded in the USA also reached remarkable levels.
Increase in Wallets Holding Million XRP After Four Months
According to data shared by on-chain analysis platform Santiment, the number of wallets holding at least 1 million XRP increased for the first time after September 2025. As of January, the number of these wallets increased by 42, reaching 2,016. The increase, which followed a gradual decline that lasted for four months, is interpreted as long-term investors starting to take positions again.
In his statement on social media platform X, Santiment emphasized that high-balance wallets returning to the ledger are encouraging in terms of the long-term outlook. XRP is known as an institutional-focused crypto asset used by Ripple in cross-border payment solutions. For this reason, large investor movements are considered more decisive than individual trading behavior.
On the price side, the same optimism is not yet seen. XRP is trading at $1.88 at the time of writing and has declined around 1.7 percent on a daily basis. The technical outlook shows the price falling below the 50-day moving average and facing repeated selling in the $2 region. This picture suggests that major players are focusing on a long-term scenario rather than chasing short-term rise.
Strong Entries in XRP ETFs, Outflows in Bitcoin
The picture in favor of XRP is not limited to on-chain data. Spot XRP ETFs traded on US exchanges recorded a total net inflow of $91.72 million in January. According to SoSoValue data, these funds attracted $666 million in investment in November and $499 million in December.
During the same time period, bitcoin ETFs followed an opposite trend. Bitcoin funds, which experienced a net outflow of $278 million in January, faced withdrawals exceeding $4 billion in the last two months of 2025. The shift of corporate capital towards XRP products points to a change in risk distribution.
The divergence between price performance and fund flows is striking. Due to weak market momentum, XRP has not yet been able to reflect the increasing demand in prices. It is known that similar structures in the past resulted in sharper price fluctuations after long horizontal movements. However, it is also reminded that the timing differs in each cycle.
