In recent days, the XRP Ledger is experiencing one of its busiest periods in its 12-year history, marked by a remarkable increase in activity and high-value holders.
Increase in Activity on XRP Ledger
According to the latest data from Santiment, the number of unique wallets interacting with the XRP network has risen to an average of 295,000 per day over the past week, far exceeding the asset's 90-day average of just 35,000-40,000. This sudden surge in network usage is unprecedented in recent XRP price history.
Growth of High-Value Wallets
The number of wallets holding at least one million XRP has reached 2,708, marking an all-time high. This milestone suggests that major investors and early institutional players are becoming more confident as they prepare for potential growth.
Future Prospects and Predictions
The concurrent increase in network-level activity and high-net-worth wallet accumulation suggests the possibility of a larger accumulation cycle. This may be linked to developments in the XRP Ledger or expectations of legal changes. Currently, XRP is trading at around $2.28, which, although significantly higher than the levels earlier this year, has not yet established a full bullish breakout.
The scale and speed of recent activity have clearly put XRP back on the radar of major players. The future price movement will likely depend on upcoming developments to justify the sudden influx of activity.
