XRP has reached a new historical high on its network. According to Santiment, there are currently 332,230 wallets holding at least 10,000 XRP, an unprecedented figure. This increase in large wallets comes at a time when cryptocurrency prices are far from their previous peaks. This momentum has reignited discussions about the positioning of long-term investors in Ripple assets.
332,230 XRP Wallets: Large Holders Strengthen Their Positions
Several key points are worth noting from this dynamic observed in the XRP network:
- This trend contrasts with the performance of many assets that are more sensitive to short-term speculative fluctuations. Thus, the rapid recovery of wallets following a massive liquidation in February demonstrates the resilience of major XRP holders.
Growth of the XRP Network Not Fully Reflected in Price
The surge in large wallets has not been accompanied by an immediate rebound in XRP prices to their previous market highs. Currently, the asset is trading between $1.45 and $1.50, having recently just broken through a downward resistance that lasted for several months. The contrast between on-chain growth and price performance has sparked discussions among analysts.
In fact, the expansion of the XRP network is still far from achieving the global adoption levels of traditional payment infrastructures like Visa or Mastercard. In other words, the increase in wallet numbers does not automatically imply that XRP dominates international payments. This accumulation may reflect the strategic confidence of historical investors, but it does not guarantee an immediate surge in actual network usage.