XRP Ledger shows significant growth in activity as the number of large holders reaches record levels. This increase is related to new opportunities available in the XRP ecosystem.
Increase in Wallet Activity
According to analytics provider Santiment, the average number of active addresses in the XRP Ledger has exceeded 295,000 daily this past week, significantly higher than the three-month average of 35,000 to 40,000. Whale wallets (with over 1 million XRP) have hit a record high of 2,700 wallets in XRP's 12+ year history. This sharp increase indicates strong confidence in XRPL from high-net-worth individuals.
DeFi Functionality in XRP Ledger
XRP Ledger recently added decentralized finance (DeFi) functionality by integrating automated market makers (AMM). This expansion of the ecosystem allows more users to interact with other crypto assets and improves liquidity on the platform.
Price Predictions for XRP
XRP is forming higher lows, indicating a potential breakout towards the $2.42 to $2.45 zone. To achieve this, XRP needs to hold critical support at $2.15. As of now, XRP is hovering around the $2.11 mark, indicating a wait-and-see approach. Higher lows are a sign of renewed buying interest and may signal further price growth.
The rise in activity in the XRP Ledger and the increase in the number of large holders underscore the sustained interest from investors. Combined with new features in the ecosystem, this points to potential growth for XRP in the future.
