XRP Accumulation Outpaces Bitcoin and Ethereum
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Divergent Wallet Growth Patterns
According to Dom, the data shows a decline in BTC addresses holding at least 0.001 BTC over the past year. Similarly, ETH addresses with a minimum of 0.1 ETH surged until late 2024 but have since declined. In contrast, XRP has experienced a steady increase in wallets holding over 1 million XRP. Notably, after the February 2nd market sell-off, there was a sharp spike with 53 new wallets added overnight holding over 1 million XRP, suggesting that larger holders are accumulating XRP at higher prices.
Implications for XRP's Future
The surge in large XRP holdings is viewed as a potentially bullish indicator. A growing number of addresses with significant XRP balances could reflect long-term investor confidence. This trend might indicate that smaller investors are scaling up their positions or that new entrants are acquiring XRP in bulk. One X user, “Guy on the Earth,” remarked that this development is “definitely positive for the remainder of this cycle,” adding that both old and new holders are stacking up XRP at much higher prices.
Contrast with BTC and ETH Sentiment
While XRP shows robust accumulation, Bitcoin and Ethereum are witnessing stagnant or declining wallet growth, possibly due to profit-taking or shifting market sentiment. With ongoing institutional interest and regulatory evolution, XRP’s current trend could significantly influence its market trajectory.