XRP Ledger's nonempty wallet count has reached 8.24 million, according to Santiment. The analytics firm named $1.40 as the first price level to watch, and the source notes that wallet totals count addresses, not individual users.
Wallets holding XRP reached a record 8.24 million nonempty addresses on the XRP Ledger, blockchain analytics platform Santiment reported on Oct. 22. The count kept climbing despite months of price swings.
Daily wallet growth hits 4,772
Santiment said daily growth climbed to 4,772 new wallets, which it ranked as the fifth-largest one-day spike since March. According to Santiment: "Holder growth is still moving higher with $XRP trading near $1.36."
As of writing, XRP is trading at $1.27.
The analysis suggested that a sustained move above $1.40, with growth near or above 4,000 wallets daily, would make a quick return to $1.50 more than plausible. A decline below $1.30 alongside fewer than roughly 3,000 new wallets daily would weaken its short-term adoption assessment.
Wallet totals measure addresses, not users
An address can serve multiple investors when an exchange manages customer holdings. The XRP Ledger supports payments using destination tags to identify the customer receiving credit at a shared address, so wallet totals cannot establish an equivalent number of individual users.
Large holders and institutions
In January, Santiment tracked a net increase of 42 addresses holding at least 1 million XRP. Separately, Evernorth Holdings Inc. outlined plans to deploy XRP from its 473 million XRP treasury beginning in the fourth quarter, working with Ripple, Coinbase, Kraken and Bitgo.
Standard Chartered launched institutional custody for Ripple USD (RLUSD) on Oct. 12 through its Dubai International Financial Centre branch. A planned integration with LMAX Group would enable use of the stablecoin as trading collateral.
Source: Bitcoin News
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