The number of XRP wallets holding at least 1 million tokens is approaching an all-time high, reflecting increased investor interest despite recent fluctuations in value.

Ripple's final court case with the SEC and the expected Bitcoin halving will significantly influence the asset's price movement.

Over the past few months, the price of Ripple's XRP has been far from its glory days, fluctuating between $0.45-$0.70. However, many investors appear to have viewed these price levels as a buying opportunity, increasing their exposure to the asset.

Santiment, a market intelligence platform, revealed that the number of wallets holding at least 1 million XRP tokens has increased over the past six weeks, recently reaching 2,013. This is just one purse away from reaching the all-time high recorded in June 2023.

Many crypto analysts believe that Ripple's native token is currently preparing for a significant price move upwards due to the upcoming trial between the company and the US SEC.

The final phase of the lawsuit will begin today (April 23) and could positively impact XRP value in case Ripple wins. The opposite scenario could lead to price drops and implementation of strict regulations regarding cryptocurrencies.

Another factor to consider is the Bitcoin halving, which took place last week. This event, after which miner rewards were cut in half, served as a precursor to a major BTC price rally and an overall market recovery.