XRP is the digital commodity that is used to run Ripple Labs' payments infrastructure. According to fresh data from the crypto analytics company Santiment, the number of wallets that hold XRP has soared to new all-time highs.
According to the market intelligence platform, which is published on the social media platform X, the number of wallets that contain non-zero XRP has reached a new all-time high. This is the result of the wallet count having doubled since February 2021.
XRP Ledger has now reached 5.02 million unique wallets that contain more than zero XRP currencies, which is the highest number of wallets it has ever had in its more than ten years of public trading. The sixth-ranked cryptocurrency asset by market size has more than quadrupled the number of such wallets in the last three years, increasing by 104% as the network continues to grow.
During the last twenty-four hours, the price of XRP has increased by a marginal amount, reaching $0.532 at the time of this writing.
Within a different thread, Santiment makes the observation that the number of Bitcoin (BTC) wallets is decreasing at the most rapid pace since the beginning of October. The analytics group believes that the sell-off is a positive indication for Bitcoin because it indicates that younger traders are reducing their losses. This is a positive indicator for Bitcoin.
According to the lessons that we have learned from the past, this is often an indication of capitulation, which may result in a price rebound on the market until smaller traders start to feel positive about cryptocurrency as an investment vehicle once again.
