Data from the platform shows there have been more than 295,000 interacting XRP wallet addresses on average every day in the past week, indicating a robust conviction among retail and institutional investors. Prior to the past week, the ledger’s daily average of interacting wallet addresses was approximately 35,000 to 40,000. Specifically, this range, considered normal, was observed for over three months.
The platform revealed that more than 2,700 whale and shark wallets currently contain at least 1 million XRP for the first time in the asset’s 12+ year history. When these cohorts accumulate strongly, it implies a robust conviction in the coin’s long-term prospects as they position themselves for an impending rally.
However, for the asset to reclaim these levels, it must hold above the $2.10 support level. As long as it holds above this area during the subsequent pullback, the structure is constructive and the bulls remain in control.
