The XRP network is experiencing one of its most active periods in history, indicating increased interest from users and large investors.
Increase in Daily Unique Addresses
According to data from Santiment, the number of daily unique wallets on the XRP network rose to 295,000, marking a sharp increase compared to its previous 90-day average, which ranged from 35,000 to 40,000 addresses.
Simultaneous Growth of Large Wallets
The number of wallets holding over one million XRP has reached 2,708. Each of these wallets is valued at least $2.25 million, representing the highest level of large-wallet accumulation in the XRP network's history.
Price Stability Despite Increased Activity
Despite the uptick in network engagement and whale activity, the price of XRP remains steady at $2.20. This is higher than earlier in the year but has not yet matched the scale of the observed changes in on-chain metrics. Analysts are closely watching to see if price movement will catch up to the rising activity levels on the network.
Thus, the increased activity on the XRP network and the accumulation of large wallets indicate a renewed interest from institutional participants despite price stability.
