A notable shift is unfolding in the cryptocurrency landscape, particularly with Ripple‘s XRP, which has recently surged to $2.49. This is the highest level it has reached since January 2018, marking a significant milestone for the altcoin after six years of fluctuations.
What Are Large Holders Doing with XRP?
Recent insights from Santiment, a cryptocurrency data analysis firm, reveal that large holders are increasingly accumulating XRP. Over the past three weeks, wallet addresses possessing between 1 million and 10 million XRP have collectively purchased 679.1 million XRP. This accumulation represents a staggering value of approximately $1.66 billion, indicating a strong belief in the coin’s potential.
How Many Users Are Joining the XRP Network?
The XRP network is also witnessing an impressive influx of users, with active wallets surpassing 5.5 million for the first time in over eight years. This growth reflects the altcoin’s rising popularity and its established position within the crypto market, drawing in new participants and investors.
Key takeaways from this surge in XRP’s performance include:
- Significant accumulation of XRP by large holders is taking place.
- The total value of recent XRP purchases is around $1.66 billion.
- Active wallets on the XRP network have increased to over 5.5 million.
- The rising user base strengthens XRP’s market position and confidence in its future.
The ongoing developments surrounding XRP’s price boost and expanding user base have captured the attention of market participants. Observers will likely keep a close watch on XRP’s performance in the coming days.