The number of whale wallets holding large amounts of XRP XRP has increased to a record high in a sign of confidence in the cryptocurrency’s price prospects.
“There are now over 2,700 whale & shark wallets holding at least 1M XRP for the first time in the asset’s 12 plus year history,” blockchain analytics firm Santiment said on X.
Additionally, the amount of active XRP addresses has averaged over 295,000 per day over the past week, significantly higher than the average of 35,000-40,000 over the past three months.
XRP is the payments-focused cryptocurrency used by the fintech company Ripple to facilitate cross-border transactions. As of writing, the cryptocurrency traded flat around $2.23, representing a 7% gain for the year, CoinDesk data show.