XRP’s large holder cohort, specifically addresses holding between 10 million and 100 million XRP, has shifted from accumulation in the second half of August to significant dumping at the start of September. 

On-chain data from analytics platform Santiment reveals a sharp reversal in holdings, both in terms of circulating supply percentage and the number of coins held by this cohort. This change raises concerns about the sustainability of XRP’s price, which has been facing rejections above $2.8, and whether September could be a bearish month for the token.

XRP Millionaires Start September With A Selloff

XRP millionaire wallets, which are addresses holding between 10 million and 100 million XRP coins, aggressively increased their holdings during the second half of August. Based on the current price of XRP, each of these addresses is sitting on $28 million and $280 million worth of XRP, depending on the size of their wallets.

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Particularly, Santiment’s data shows that the percentage of XRP supply held by these addresses rose from 11.67% on August 16 to 12.19% by the end of the month. In terms of numbers, their stash grew from about 7.5 billion XRP coins to 7.85 billion XRP. This surge in accumulation showed the confidence among large investors, which contributed to XRP successfully holding above the $3 price level throughout the month.

However, September has opened with an abrupt reversal. On September 1, whale holdings accounted for 12.19% of the circulating supply, but by September 3, that figure had dropped to 11.77%. In coin terms, the balance fell from 7.85 billion XRP to 7.61 billion XRP, wiping out much of the late August accumulation in just a few days.

This decline is clearly illustrated in Santiment’s chart below, which shows a synchronized dip in both percentage supply and absolute holdings. This rapid offloading means that these millionaire wallets may be taking profits after August’s rally, and it introduces downside pressure that could have effects on XRP’s price action throughout September.

Could This Mean A Red September For XRP?

September has been a mixed month for XRP, with both strong rallies and painful corrections shaping investor sentiment. According to data from CryptoRank, the last time XRP saw a red September was back in 2021, when it fell sharply by 20.1%. Since then, however, XRP has managed to string together three consecutive green Septembers, including a 46.2% increase in September 2022.

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This track record shows that while September has the potential to bring losses, it has also been highlighted by gains. Although it is too early to declare a repeat scenario of a red September, the sell-off from millionaires at the beginning of September sets a worrying precedent.

XRP’s price action is already showing signs of strain, with the token repeatedly facing rejections above $2.8 in recent days. If these millionaire wallets continue to offload their holdings, the bullish sentiment surrounding XRP may weaken, which may lead to further declines.

At the time of writing, XRP is trading at $2.82, up by 0.2% in the past 24 hours.

Featured image from Adobe Stock, chart from Tradingview.com

A recent technical report indicates Dogecoin (DOGE) could be on the verge of a significant price increase in the next few months. The meme coin, which is now trading at $0.17, has recorded a 10% gain in the last week and continues to be up 11% over a 14-day period.

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Bullish Divergence Indicates Possible Upswing

Based on Crypto Bio’s analysis, two separate bullish divergence patterns have emerged on Dogecoin’s chart. The first was seen between June and August 2024, when prices fell to between $0.07 and $0.09 while the Relative Strength Index (RSI) made higher lows. It was followed by a large-scale rally that saw DOGE rise above $0.40 by December 2024.

Another pattern with a similar scenario has been developed between the periods of March and April 2025. Although Dogecoin’s value printed lower lows near $0.1300, the RSI once more produced higher lows. Based on such technical features, certain experts anticipate that DOGE might find itself at $0.5 over the coming two or three months.

The Math Behind ‘Dogecoin Millionaires’

There are discussions about new ‘Dogecoin millionaires’ that have excited investors. The figures, though, paint a more serious picture. Assuming a price of $0.5, a $10,000 investment would become around $27,530 – a gain of $17,530.

$DOGE is waking up. The same signs, the same setup.

Millionaires will be made in the next 2-3 months!#DOGECOIN pic.twitter.com/mKQjjglJiO

— Crypto Bio (@CryptoBio_) April 27, 2025

In order to actually become a millionaire if DOGE reaches $0.5, an investor would need to have around 2 million coins, currently valued at around $360,000. According to Crypto Bio, given all these figures and probabilities, “millionaires will be made in the next two to three months.”

This reality check underscores the vast amount of money required to meet the ‘millionaire’ goal that is utilized to recruit prospective investors in the cryptocurrency.

Technical Support From Parabolic Trendline

Another analyst, “abermix,” notes that Dogecoin is presently riding a long-term parabolic trendline that started around $0.05 during 2022-2023. Although there were numerous tries to fall below this curve at different price levels ($0.06, $0.08, and $0.14), DOGE has repeatedly jumped back to hold ground above the line.

$doge is conforming to this parabolic trendline at the moment

idk if it’s valid but it looks like it xD

can we expect a bounce soon?#Dogecoin pic.twitter.com/moQHd7WCpt

— abermix (@abermixcrypto) April 27, 2025

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The price is trading slightly below both short-term and long-term exponential moving averages (EMAs) currently. Experts believe that a breakout above $0.20 will validate a larger trend reversal and open the doors for further advances.

Falling Wedge Formation Adds To Bullish Outlook

According to April 25 reports, Dogecoin has extricated itself from a “falling wedge” formation that had placed it in a downtrend for many months. Previous levels of resistance were tested in February at $0.28 and April at $0.16.

Market observers comment that although these technical indicators look encouraging, cryptocurrency prices are extremely volatile. The present price movement comes after several months of horizontal trading following DOGE’s peak at $0.19, and any investment choice should account for the volatility of the market.

Featured image from Gemini Imagen, chart from TradingView