XRP ledger activity hits record high; Imminent price breakout?
New on-chain data indicates that XRP’s ledger is experiencing significant growth, with large holders increasingly accumulating the asset. For the first time in XRP’s 12-year history, 2,708 unique wallets now hold 1 million or more XRP, which is valued at roughly $525,000 or more at current market prices, according to data from Santiment shared on June 16. XRP ledger activity. Source: Santiment This bullish trend is also evident in network activity. XRP’s daily active addresses have soared, averaging over 295,000 per day over the past week. This marks a staggering jump from the typical 35,000 to 40,000 daily average observed over the past three months, an eight-fold surge in user interaction. Impact on XRP’s price Historically, such a convergence of whale accumulation and rising address activity has often preceded significant price movements. The current uptick comes at a potentially pivotal moment for the XRP ecosystem. Notably, the SEC is...