The cryptocurrency market is witnessing a notable increase in optimism, particularly surrounding the XRP Ledger (XRP) token. Recent data from blockchain intelligence platform Santiment highlights a substantial rise in the number of crypto wallets holding at least 10,000 XRP, now totaling 279,400. This figure marks a six-month high and represents significant participation from large-scale traders in the crypto ecosystem.

As of July 31, this surge in ‘shark’ and ‘whale’ wallets has been linked to positive forecasts for XRP’s future market value. Analysis by Santiment reveals a strong correlation between the increase in substantial wallet holders and the token’s price movements throughout 2024, underscoring a robust market sentiment.

This trend aligns with analysts’ bullish expectations and indicates a growing confidence among investors. As the number of large holders continues to climb, the potential for XRP’s price stabilization and growth looks increasingly promising, suggesting a vibrant recovery phase for the cryptocurrency sector.