- According to on-chain analytics firm Santiment, the number of wallets holding at least 10,000 XRP reached a record 332,230.
- Santiment said continued accumulation by mid-sized and large investors and the increase in mid-sized and large wallets are important signals of stronger conviction among investors focused on long-term positioning rather than short-term price moves.
- It said that despite lower price levels than the previous peak this year and a broader cryptocurrency market selloff and forced liquidations, investors added to their holdings during periods of fear, fully recovering the earlier drop in wallet numbers.
Forecast Trend Report by Period
The number of wallets holding at least 10,000 XRP has reached a record high, in a sign that long-term accumulation is continuing.
On-chain analytics firm Santiment said May 12 that 332,230 wallets on the XRP Ledger currently hold 10,000 XRP or more, the highest level on record.
Santiment said the figure has been rising steadily since June last year.
The market is closely watching continued accumulation by mid-sized and large investors. Santiment said large holders have steadily accumulated XRP despite ongoing volatility and uncertainty, calling it an important long-term signal.
The increase in mid-sized and large wallets suggests growing conviction among investors focused on long-term positioning rather than short-term price swings, it added.
Although XRP has traded for an extended period this year below its previous peak, investors appear to have increased holdings during periods of fear.
Santiment also addressed a decline of about 4,500 wallets holding at least 10,000 XRP between Feb. 6 and Feb. 8. It said the drop appeared to be driven less by an XRP-specific issue than by a broader cryptocurrency market selloff and forced liquidations during that period.
It added that the wallet count has since resumed its upward climb and fully recovered the earlier decline.
