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The total number of XRP addresses has reached a new milestone surpassing the previous record to hit 6.87 million as of March 1. This surge comes despite the cryptocurrency’s price remaining significantly below its historical peak according to data from Glassnode analyzed by crypto expert Ali Martinez. The network now boasts over 6.27 million accounts as of today representing a dramatic increase from the 5 million observed early in 2024. Such growth is supported by a rise in trustlines which expands the network’s capability to manage various digital assets making it increasingly popular for cross-border transactions and decentralized finance applications.
On March 5 Martinez highlighted an extraordinary 620% increase in active XRP addresses week-over-week which escalated from 74,589 to 462,650. This spike in activity underscores a growing interest and engagement within the XRP ecosystem.
Despite the positive trends XRP whales have remained relatively inactive over the last week showing no significant buying or selling. This could suggest a period of accumulation or a strategic pause by influential holders indicating potential preparation for an upcoming significant market movement. Investors and market watchers are keenly observing these developments seeing them as indicators of potential upward trends for XRP in the near future.
