New data from crypto analytics firm Santiment shows that the number of wallets holding XRP – the digital asset used to operate Ripple Labs’ payment platform – has exploded to new all-time highs.
The market intelligence platform says on social media platform doubling the count since February 2021.
“XRP Ledger now has 5.02 million different wallets holding more than zero XRP coins, the most in now more than 10 years of public trading. The sixth-ranked cryptocurrency by market cap has more than doubled such portfolios (+104%) in three years as its network expands.”
XRP is trading at $0.532 at the time of writing, up fractionally over the past 24 hours.
In another thread, Santiment notes that Bitcoin (BTC) portfolios are falling at the fastest pace since early October. According to the analytics firm, the sell-off is a good sign for Bitcoin as it suggests newer traders are cutting their losses.
“The total number of Bitcoin wallets has fallen at the fastest pace since early October (just before the big crypto bull cycle started). The public is showing a similar level of impatience this time around, with more than 487,000 wallets holding one BTC or less liquidated in the past four days alone.
History tells us that this is typically a sign of capitulation, which could lead to a rise in market prices until smaller traders start to become optimistic about crypto as an investment vehicle again.”
Bitcoin is trading at $42,500 at the time of writing, up 1.59% over the past day.
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Generated image: Midjourney
