XRP addresses holding 1,000,000 (1 million) tokens and more, which have witnessed a slight increase since the ongoing market collapse began.

This is according to data from market intelligence provider Santiment, confirming optimism among whale investors despite the current downturn. For context, this downturn intensified early last month, specifically after March 2, following the 34% price spike that day on the back of Donald Trump’s crypto reserve announcement.

After the impressive intraday performance, XRP slumped nearly 19% on March 3, marking the start of the current price struggles. Since then, the altcoin has dropped 30%, struggling to maintain its hold above $2 before a full-blown recovery arrives.

XRP Addresses Holding 1M+ Increase to 2,635

Interestingly, it appears whales remain increasingly confident in this recovery. According to Santiment data, XRP addresses holding 1 million XRP tokens and more have increased slightly since March 2. In particular, these addresses numbered 2,633 as of March 2.

Of this figure, those holding between 1 million and 10 million XRP amounted to 2,136, making up the bulk of the number. Meanwhile, XRP addresses with balances ranging from 10 million to 100 million tokens were 301 in number. Further, there were 37 wallets holding 100 million to 1 billion XRP and 159 wallets holding 1 billion tokens and more.

While some tiers of addresses have witnessed a drop in their numbers, others have increased to make up. For instance, recent data shows that XRP addresses with balances between 1 million and 10 million coins have dropped to 2,133, a decline of 3 addresses.

However, to compensate for this drop, investors with balances ranging from 10 million to 100 million XRP have increased to 307, an addition of 6 addresses. Further, those holding between 100 million and 1 billion have also declined to 35, a loss of 2 wallets within this category.

Nonetheless, there is now one more address with a balance of 1 billion XRP and more. Overall, all XRP addresses with 1 million XRP and more now amount to 2,635, a net increase of 2 addresses since March 2.

Whale Addresses Amass 1.26B XRP

While this figure is too small to make a difference, the fact that the market has not observed a massive drop in these addresses signifies confidence in XRP’s potential.

In addition to this mild growth in their number, these addresses have also continued to accumulate more tokens. Further data from Santiment confirms that these XRP addresses held a cumulative balance of 45.44 billion XRP as of March 2. Currently, this figure stands at 46.7 billion tokens, indicating that they have amassed 1.26 billion XRP within this period.

Interestingly, this growth is a trend that has persisted throughout the year. Addresses with 1 million XRP and more amounted to 2,482 at the start of the year, on Jan. 1. The current figure of 2,635 translates to an increase of 135 year-to-date. In addition, from Jan. 25 to March 25, these wallets increased by 36.