XRP Wallets Hit Record 8.24 Million as Network Growth Accelerates

Key Takeaways

XRP Wallet Growth Accelerates Through Price Volatility

XRP’s base of funded addresses reached a record despite months of price swings, blockchain analytics platform Santiment reported on Oct. 22. Its record XRP wallet count stood at 8.24 million nonempty addresses on the XRP Ledger.

Daily growth also climbed to 4,772 new wallets, which the firm ranked as the fifth-largest one-day spike since March. Santiment stated: “Holder growth is still moving higher with $XRP trading near $1.36.” As of writing, XRP is trading at $1.27.

A sustained move above $1.40, accompanied by growth near or above 4,000 wallets daily, would make a quick return to $1.50 more than plausible, the analysis suggested. A decline below $1.30 alongside fewer than roughly 3,000 new wallets daily would weaken its short-term adoption assessment.

The firm added:

“Fresh participation is accelerating again, which strengthens the bullish case if price continues confirming the increase in users.”

santiment chart — Santiment chart showing 8.24 million nonempty XRP wallets and daily network growth of 4,772 addresses. Source: Santiment.

What the Record Reveals About Network Participation

The daily reading measures 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 also 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. Consequently, wallet totals measure addresses and cannot establish an equivalent number of individual users.

Public transaction histories allow address balances and transfers to be examined over time. A blockchain explorer organizes those records for inspection, providing the underlying information used to assess activity across a network.

Large Holders Add Another Dimension to XRP Ownership

Changes within specific balance categories offer a separate view of XRP ownership. In January, Santiment tracked growth in high-balance XRP wallets, with a net increase of 42 addresses holding at least 1 million XRP. That narrower measure tracked larger holdings.

Corporate holdings also include substantial balances managed through treasury strategies. Evernorth Holdings Inc. (Nasdaq: XRPN), for example, 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, for instance, 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.