Emily Walker
Recent on-chain data indicates a surge in XRP adoption, predominantly driven by an increasing number of retail investors joining the network.
Significant Rise in XRP Holders
An update from the analytics company Santiment on X has highlighted the rapid growth in XRP address holders. The main metric to note is the “Total Amount of Holders,” which tracks the count of addresses with a non-zero balance on the XRP network.
When this metric increases, it typically signifies either new investors entering the market or previous investors returning after selling their holdings. Additionally, some existing users may create new addresses for privacy reasons.
In summary, a rising Total Amount of Holders suggests a net adoption of XRP, while a decline would indicate that some investors are emptying their accounts and exiting the cryptocurrency.
Below is the chart showing the trend of this indicator for XRP throughout its blockchain history:
The chart illustrates that while the number of XRP holders has generally increased over the past few years, the recent growth has accelerated significantly.
Currently, the Total Amount of Holders is rising sharply, indicating a substantial influx of new users to the network. As of now, there are approximately 6.07 million addresses that hold a non-zero balance.
Santiment has also provided data on another metric: the wallets holding less than 100 XRP tokens. With the current value of XRP at $3.08, this amount equates to about $308, characterizing these addresses as belonging primarily to retail investors.
The data shows a remarkable rise in the number of small-scale traders on the XRP network. Santiment describes this recent growth in this segment as the “most sustained and rapid” to date.
With an 11.6% increase over the past two months, the number of wallets held by retail investors has reached around 4.34 million, representing roughly 71.5% of the entire userbase of XRP.
Current XRP Price
Over the past two weeks, XRP’s price has remained relatively stable, hovering around the $3.08 level.