The XRP Ledger is demonstrating notable increases in user activity and large token holders. This article reviews the latest network data and its market impact.
Increase in Network Activity
According to analytics firm Santiment, the average number of daily interacting XRP addresses has surpassed 295,000 over the past week, a sharp rise from the typical 35,000 to 40,000 seen during the prior three months.
Large XRP Holders
For the first time in the network’s 12-year history, more than 2,700 wallets hold at least one million XRP. The increase in big holders suggests rising interest from high-stakes players, often viewed as a sign of confidence in the network's prospects.
XRP Price Analysis
Over the past week, XRP has ranged from $2.10 to $2.32. Recent market activity has surged by 248%, now trading at $2.2373, marking a 2.7% increase in the past 24 hours. However, XRP is experiencing technical challenges as long-term averages lean bearish.
The increase in network activity and the count of large XRP holders indicate a possible re-evaluation of the token's prospects by the market. At the same time, technical indicators highlight uncertainty in price direction.
