The cryptocurrency XRP is witnessing a surge in its holder base, with the number of non-empty addresses reaching an unprecedented 7.7 million, according to data from on-chain analytics firm Santiment. This milestone, coupled with a rise in daily active addresses to a five-week high, suggests that XRP is gaining traction among retail and institutional investors alike.
Network Activity and Holder Accumulation
The surge in XRP’s holder count is not just a testament to its growing popularity but also a reflection of the network’s increasing activity. Santiment reported that daily active addresses on the XRP Ledger (XRPL) have reached 46,767, the highest in five weeks. This uptick in activity coincides with a recent price movement that saw XRP climb to a four-week high of $1.60.
The number of non-empty addresses on XRPL has also reached a new all-time high, indicating that more users are holding XRP in their wallets. This is a positive sign for the long-term health of the network, as it suggests that investors are increasingly confident in XRP’s value proposition.
Analyst Insights and Market Sentiment
Analysts are closely watching the $1.60 resistance level, which has been a key hurdle for XRP’s price over the past six weeks. According to CryptoWZRD_, a prominent market analyst, XRP needs to move above the $1.51 resistance to trigger a quick rally towards the $2.0 resistance. This level has historically served as a significant launchpad for XRP’s price movements, with a 90% rally in less than a week recorded in December 2024.
Another analyst, CW8900, noted that the area between $1.50 and $1.52 is a major sell wall for XRP. However, if the price breaks through this resistance, there is no significant resistance until $1.95, which aligns with the measured target of a rounded bottom chart pattern and the 200-day simple moving average (SMA).
Whale Activity and Market Dynamics
Whale activity, which refers to the movements of large XRP holders, has also been a key factor in the recent price dynamics. Data from CryptoQuant shows that XRP’s Whale Flow 30-day moving average (30DMA) turned positive in March for the first time since November 2025. This indicates that whales have been accumulating XRP, a trend that could provide additional support to the price.
The reducing balance on exchanges, which has dropped to levels last seen in May 2021, further supports the bullish case for XRP. This suggests that a significant portion of XRP is being held for the long term rather than being traded, which can lead to a supply shortage and potentially drive the price higher.
Conclusion and Future Outlook
The confluence of growing network activity, increasing holder accumulation, and positive whale activity presents a strong case for XRP breaking through the $1.60 resistance level. If XRP manages to reclaim this level, it could signal the start of a new bullish trend, potentially leading to a price rally towards $2.0 and beyond. However, investors should remain cautious and monitor market conditions, as the cryptocurrency market is known for its volatility.
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