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XRP continued to trade sideways on Sunday following a period of high market liquidity.
Notably, the cryptocurrency increased by nearly 3% over the past week, despite the ongoing selling pressure across major digital assets.
Meanwhile, according to on-chain data from the analytics platform Santiment, the XRP Ledger has reached a new all-time high in the number of wallets holding at least 10,000 XRP. The figure now stands at approximately 332,230 addresses, marking a significant milestone in network participation.
Since mid-2024, the number of mid-to-large holders has been steadily rising, indicating a prolonged period of accumulation rather than cyclical interest. Market observers often view wallets holding 10,000 XRP or more as a proxy for committed investors, typically those less reactive to short-term volatility and more focused on longer-term positioning strategies.
Despite recent price stagnation, XRP’s long-term trajectory remains unaffected, as evidenced by the continued rise of these wallets. A significant number of investors seem to be accumulating during periods of uncertainty, which is typically associated with initial bullish cycles.
 
Additionally, Santiment’s data indicates a temporary disruption earlier in the year. Between February 6th and 8th, the number of wallets holding more than 10,000 XRP decreased by more than 4,500.
Despite the absence of a specific XRP catalyst, the timing coincided with a broader crypto market downturn, leading to widespread liquidations. The rebound not only offset the decline but also set a record for wallet count, strengthening the argument that accumulation resumed aggressively after the sell-off.
Additionally, popular analyst Ali Martinez noted that XRP remains confined within a defined trading channel. According to his analysis, a decisive daily close above the upper boundary near $1.49 could serve as a breakout trigger, potentially opening the door toward the $1.80 region.
Furthermore, analyst MikybullCrypto pointed to XRP’s recent behavior following a breakout-retest structure. According to his analysis, the asset appears to be successfully retesting a previously broken resistance level, a technical formation often interpreted as confirmation of strength.
Based on this pattern, he suggested that XRP could be positioned for a near-term move toward the $2 mark, provided broader market conditions remain supportive.
At press time, XRP was trading at $1.41, reflecting a 0.11% drop in the past 24 hours.