The number of non-empty wallets on the XRP Ledger has recorded a consistent upward trend, as market enthusiasts appear to be loading up XRP.
XRP has reduced by 15% over the past month, but new whales seem to be raking up the token. Do they know something that we don’t? Well, the coming days or weeks will tell why they have remained keen on the coin despite the crypto market dip.
Notably, Santiment recently identified the number of non-empty wallets on different large-cap cryptocurrencies. As the name suggests, these are addresses on a network that hold some amount of tokens. Essentially, they are addresses holding balances greater than 0.
Notably, the XRP Ledger has the fifth-largest number of non-empty wallets in the crypto space, aligning with its current market cap ranking. The Santiment data shows that 7.41 million addresses have some amount of XRP in them.
Interestingly, the number of wallets with a balance on the XRP Ledger has steadily grown even as the asset has underperformed since its July high of $3.66. For perspective, a year ago, there were 5.73 million total XRP holders. This number has increased 29.3% in one year to reach 7.41 million non-empty accounts.
On July 18, when XRP peaked at $3.66, the XRP Ledger had 6.7 million non-empty wallets. This reflects a 10.6% increase despite the price crashing nearly 50%. Notably, this continued rise shows more addresses are holding XRP, signaling accumulation. Historically, such buying pressure usually precedes a price recovery.
Meanwhile, Ethereum leads as the network with the largest number of non-empty wallets, with 167.96 million total holders. Its strengthening institutional appeal and DeFi proficiencies are possible enablers for this large holder base. The asset has also seen a steady growth in its total holders over the past year.
Bitcoin follows next with 57.62 million total holders. Meanwhile, Tether’s USDT and Dogecoin occupy the third and fourth places, respectively. They have 9.6 million and 8.13 million non-empty wallets.
Below XRP is another blue-chip asset, Cardano, with a total holder count of 4.54 million. Others include Circle’s USDC and Chainlink, which have 4.39 million and 819,000, respectively.
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