XRP Wallets Holding Over 1M Tokens Hit Record High

The XRP Ledger continues to gain momentum as increasing on-chain activity and a surge in large wallet holders signal renewed interest in XRP. This growing traction suggests strong investor confidence in XRP’s future, particularly notable as XRP recovers from its recent price dips. The spotlight now turns to the record number of addresses holding over 1 million XRP each.

A recent report from Santiment uncovered a significant milestone in XRP’s history. For the first time ever, more than 2,700 unique wallets now contain at least 1 million XRP tokens. This notable figure marks a new all-time high in XRP’s 12-year existence, highlighting a strategic move by whales capitalizing on XRP’s recent price consolidation near the $2.00 level. According to Santiment, exactly 2,708 addresses currently hold XRP valued above $2.25 million.

The rise in large holders is not occurring in isolation. Increasing user engagement with the XRP Ledger (XRPL) complements this trend. Santiment found that the average number of daily transactions on XRPL has surged, exceeding its typical range observed over the past three months. This elevated activity reaffirms growing utility and adoption of the network.

Before the recent spike, daily active addresses ranged between 35,000 and 40,000. However, this figure had significantly declined from highs above 540,000 observed earlier in the year. Now, activity is bouncing back. Over the past week, average daily active addresses have skyrocketed to around 295,000, marking a staggering 637.5% increase. This suggests that both whales and retail participants are increasingly engaging with the network.

It’s worth noting that Santiment’s data encompasses both sender and receiver addresses, which corrects any misunderstandings about stagnating unique sender metrics. In response to a comment by XRPL validator Vet highlighting stable sender trends, Santiment clarified that the spike in activity is largely driven by increases in receiving addresses. This dual-sided metric offers a more complete picture of on-chain behavior.

Fueling speculation further, XRP’s price temporarily surged to $2.33 before settling back to $2.23. At present, XRP is trading at approximately $2.24. Market analysts are optimistic, linking the increased whale activity and network engagement with an impending breakout. A recent analysis by Crypto Beast suggests that XRP could rise to at least $8 this market cycle, driven by bullish fundamentals and clearer regulations.

This notable accumulation among large holders, combined with surging user activity, sets a strong foundation for potential future growth. With XRP remaining below the $3 mark despite these positive developments, current levels may offer an attractive entry point for investors anticipating another major rally.

Related: Expert Advice: Sell XRP If You’re Confused

Overall, XRP’s increasing network utility and historic highs in whale wallet holdings reflect a maturing ecosystem backed by strategic accumulation and renewed trader confidence. As broader crypto markets recover and regulatory uncertainty diminishes, XRP appears poised for heightened relevance and potential price movement in upcoming months.