$XRP has finally broken a long-standing downtrend, gaining over 4% on July 9 and breaking out of a falling wedge pattern, a bullish reversal pattern.
$XRP Holder Count Is Rising
Despite price fluctuations, the total number of XRP holders has been on a parabolic rise since the beginning of the year. The number has now climbed to around 6.64 million, suggesting growing long-term interest in the asset.
One of the most telling signals in XRP's on-chain data right now is the MVRV Z-Score (Market Value to Realized Value Z-Score): a metric used to assess whether an asset is undervalued or overvalued relative to its historical fair value. So far, XRP's MVRV Z-Score is hovering near 2.13, which is still at the low end of the historical scale.
While it's not in the deep undervaluation zone (usually below 1), it remains below the overheated levels above 5–6 that typically precede local peaks. This means that XRP is not overvalued, and the current price action is likely supported by healthy supply and demand dynamics.
