Recent data indicates a significant increase in the number of XRP wallets, particularly those holding substantial amounts. Over the past year, wallets containing more than 1 million XRP have risen from approximately 2,200 to over 2,700. Notably, there was an overnight increase of 53 such wallets following a price decline on February 3, 2025.
This trend isn't limited to large holders; smaller investors are also accumulating XRP. Wallets holding over 100 XRP have grown from 1.6 million to over 1.74 million in the same period, with a significant uptick after the February 3 market downturn.
In contrast, major on-chain metrics for XRP have seen a decline. The number of payments on the network decreased by about 50% from recent highs, and active addresses are diminishing rapidly.
Despite these mixed signals, XRP's price has experienced substantial growth, surging from $0.52 in November 2024 to approximately $2.46 by January 2025.
The increase in large XRP holdings suggests growing confidence among investors, possibly due to positive developments within the XRP ecosystem. However, the decline in network activity metrics indicates a need for cautious optimism.
