XRP Whales And Sharks Surge To Record High, Indicating Serious Growth In XRPL Ecosystem

• Active and unique wallet addresses holding at least 1 million XRP, also known as whales and sharks, surged to an all-time high (ATH) in the last 24 hours.
• According to Santiment, the figures have already reached 2,708, which was the largest by far since the XRP Ledger (XRPL) went live in June 2012.

XRP Whales and Sharks Reach an ATH

“There are now over 2,700 whale & shark wallets holding at least 1M XRP for the first time in the asset’s 12+ year history,” Santiment announced on X a couple of hours ago.

Meanwhile, the number of interacting XRP addresses averaged 295,000 in the past week. This was a significant boost from the 35,000 to 40,000 average in the last three months.

The crypto data intelligence platform claimed that the trend shows a “serious signs of growth” in the XRPL in terms of usage and vital stakeholders.

ADVERTISEMENTSource: Santiment## Story by the Numbers

Based on Santiment’s chart, unique addresses interacting with the chain steeply rose from roughly 2,000 as the XRP price began rallying above a dollar in November. This notably coincided with crypto-friendly Donald Trump’s win as US president in the last election, the US Securities and Exchange Commission (SEC) case turning in Ripple’s favor, and the announced exit of Gary Gensler as the regulatory body’s chair. Additionally, it was timed when the crypto community was hyped over the anticipation for the Ripple USD (RLUSD) stablecoin alongside the steadily growing institutional adoption of XRPL through Ripple’s strategic acquisitions and partnerships.

The momentum buildup eventually led to the XRP price reaching a seven-year high of $3.38 per token in January this year. It was only a few cents below the $3.84 record-high it achieved in January 2018.

The token’s price began entering into a corrective phase following the event, all the way down to $1.64 in April, before gradually recovering above the $2 mark. Nonetheless, whale and shark addresses linked to XRP exhibited an uptrend. Along the way, the average amount of interacting addresses on XRPL declined between March and April prior to a spike this month.

ADVERTISEMENTOverall, the trend suggests a firm conviction among long-term and institutional XRP holders. Despite the cyclical FUD (fear, doubt, uncertainty) driving price volatility every now and then, they don’t appear to be fazed by it, instead capitalizing on the opportunity to buy dips and strategically improve their dollar-cost average (DCA). This accumulation pattern reflects a maturing investor base and growing trust in XRP’s solid fundamentals.

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