Data on the blockchain indicates that XRP’s price bottom could be even lower – here’s the reasoning.
March 23, 2026
The XRP price has shown signs of stabilization after a slow start to the year, giving hope to investors. However, recent on-chain analysis suggests that the altcoin may not have reached its local price bottom yet, contrary to expectations.
An on-chain analyst, Joao Wedson, highlighted that the Number of Days Spent At A Profit metric indicates that XRP holders have not been in profit for long compared to past price levels. This metric tracks the number of days since XRP was last at a higher price. Historically, extreme levels in this metric have corresponded with significant price movements, but currently, XRP is still trading below these critical levels.
Wedson’s analysis implies that XRP could face further downward movement in the short to medium term, setting the stage for the formation of historical patterns that precede previous price bottoms. This suggests that the XRP market may have more room for correction before reaching a local bottom.
Additionally, data from blockchain analytics firm Santiment revealed expansion in the XRP Ledger, driven primarily by growth in the number of small wallets holding XRP. Notably, the number of ‘shrimp’ wallets, holding less than 100 XRP, has surged to around 5.66 million addresses, indicating broad retail and user adoption of XRP.
Similarly, wallets holding between 100 and 100,000 XRP have shown growth, totaling approximately 2.01 million wallets. These mid-tier investors represent a substantial portion of the network and suggest increased accumulation in the XRP market. In contrast, the number of wallets holding more than 100,000 XRP has seen minimal growth, with around 32,054 wallets in this category. This suggests that larger investors are engaging in distribution or repositioning activities rather than aggressive accumulation.
The lack of significant movement from large holders influencing XRP prices indicates that a local price bottom may be further down. As of the latest data, the XRP price hovers around $1.44, reflecting a minor 0.4% loss in the past day.
In conclusion, the on-chain data and analysis suggest that while there are positive signs of growth in the XRP Ledger and an increase in smaller wallets, the XRP price may not have hit its true bottom yet. This indicates that investors should be prepared for potential further downside before a sustainable rebound in the XRP market.
