The cryptocurrency Ripple (XRP) is witnessing a growing wave of confidence from major investors in the crypto market, clearly reflected in a record increase in the number of "whale" wallets holding large quantities of the token. According to analytics platform Santiment, the number of wallets containing over one million XRP has exceeded 2,700 for the first time in the network’s 12-year history an indicator of strong long-term belief in the asset’s price potential and performance.
Despite daily fluctuations in XRP's price rising to $2.33 before quickly retreating to a support level at $2.20, these movements have not deterred market whales or large investors from expanding their holdings. These sudden reversals, known as "ghost rallies" or "bull traps," often lead to losses for retail buyers rushing in after price spikes. However, large holders appear unconcerned with short-term volatility, continuing to accumulate more XRP.
This growing confidence isn’t limited to large investors, it extends to retail users as well. The number of active daily XRP addresses has surged to an average of over 295,000 in the past week, far surpassing the recent three-month average of 35,000–40,000. The total number of XRP wallets has also grown to more than 7.07 million, indicating a broadening user base.
This rise in adoption and accumulation is supported by a series of positive developments—most notably legal victories in Ripple’s long-standing battle with the U.S. Securities and Exchange Commission (SEC). These outcomes have fueled expectations for the possible launch of an XRP-based exchange-traded fund (ETF), a move many analysts believe could occur this year. Such a development would likely pave the way for broader institutional adoption and potentially drive XRP’s price into double digits if the current momentum continues.
Ultimately, Ripple appears poised for a new phase where technological maturity meets growing market confidence positioning it as one of the standout players in the evolving world of digital finance.
Source - Dailycoin
Source - Coindesk
