XRP Alert: Number of Holders Reaches All-Time High — Potential Breakout from Descending Channel on the Horizon

XRP continues to attract attention as wallets holding 10,000 or more coins reached an all-time high of over 317,500 addresses. This surge in whale and mid-tier investor accumulation reflects strengthening confidence in XRP’s long-term potential amidst short-term market fluctuations.

The increasing number of large and mid-sized holders accumulating XRP suggests that informed investors are positioning themselves early for potential market moves. Historical data shows that spikes in wallet growth often precede significant price recoveries, indicating growing conviction that the asset is undervalued compared to its long-term fundamentals.

Despite recent price swings, XRP has seen a 5.3% rebound in the past 12 hours, with buying activity increasing at lower levels. This uptick aligns with the rising wallet counts, confirming that accumulation is establishing a solid demand floor. Moreover, the expanding base of large holders could signal a shift in market sentiment, with XRP being viewed as a strategic asset with real-world utility.

Market analyst Degen Profit notes XRP’s current trading price of $2.37 within a descending channel, typically associated with corrective phases. However, this pattern has historically foreshadowed significant rallies for XRP, generating optimism among traders and investors. Maintaining support within the critical $2.00–$2.20 range is crucial for XRP’s next move towards a potential rebound to $2.72 and beyond.

Overall, market sentiment appears cautiously bullish as traders monitor XRP’s support levels, volume trends, and broader crypto movements. A successful defense of the $2.00–$2.20 zone could pave the way for a bullish reversal, especially if Bitcoin and Ethereum also recover, potentially sparking a broader altcoin rally.

The record-breaking increase in wallets holding over 10,000 XRP signifies a significant change in market dynamics, with whales and mid-tier holders accumulating XRP and enhancing the cryptocurrency’s long-term outlook. As confidence in XRP grows and the network expands, the groundwork is laid for a sustained bullish phase led by key stakeholders, despite short-term market volatility.