The XRP Ledger's number of nonempty wallets reached a record 8.24 million, blockchain analytics platform Santiment reported on Oct. 22, as address growth accelerated through a period of price volatility.
Daily growth climbed to 4,772 new wallets, which Santiment ranked as the fifth-largest one-day spike since March. The firm said holder growth was still moving higher while XRP traded near $1.36. As of writing, XRP was trading at $1.27.
Levels watched by Santiment
Santiment highlighted $1.40 as the first price level to watch. The analysis said a sustained move above $1.40, accompanied by daily growth near or above 4,000 wallets, 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.
“Fresh participation is accelerating again, which strengthens the bullish case if price continues confirming the increase in users,” Santiment stated.
What the wallet count measures
The daily reading tracks new participation alongside the broader population of addresses retaining balances. Santiment defines network growth as the number of new addresses transferring a given token for the first time, distinguishing that activity from the total nonempty wallet count.
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. Wallet totals therefore measure addresses and cannot establish an equivalent number of individual users.
Public transaction histories allow address balances and transfers to be examined over time, with a blockchain explorer organizing those records for inspection.
Larger holders and corporate activity
Changes within specific balance categories offer a separate view of XRP ownership. In January, Santiment tracked a net increase of 42 addresses holding at least 1 million XRP.
Corporate holdings also include substantial balances managed through treasury strategies. Evernorth Holdings Inc. (Nasdaq: XRPN) outlined plans to deploy XRP from its 473 million XRP treasury beginning in the fourth quarter, working with Ripple, crypto exchange Coinbase (Nasdaq: COIN), Kraken, and Bitgo.
Bank services extend to other assets issued on the same network. 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 the stablecoin's use as trading collateral.
