By XRP is currently trading at $2.09, down 3.82% in the last 24 hours, yet on-chain activity suggests the network is far from cooling off.
Source: CoinMarketCap
The number of XRP wallets holding more than 1 million tokens has surged to 2,850, marking a significant increase in both retail and institutional accumulation.
Despite the price decline, interest in the token remains strong, with data indicating both consistent usage and market confidence.
This divergence between falling prices and rising adoption often signals structural strength in a digital asset.
In particular, the rise in large XRP wallets may indicate long-term holders are accumulating during the dip, a strategy often observed in anticipation of a rebound.
Many of these wallets appear to be newly activated, suggesting fresh capital entering the XRP ecosystem.
XRP derivatives hold firm at $2.8 billion
Open interest in XRP futures markets is holding at $2.8 billion, reflecting ongoing trader exposure even as the spot price trends lower.
Such persistence, combined with wallet growth, indicates a rare alignment of speculative positioning and genuine network expansion.
Typically, these two metrics move in opposite directions, but their current correlation suggests that XRP may be in a consolidation phase before a potential breakout.
Futures markets tend to react sharply to short-term sentiment shifts, but XRP’s open interest has shown minimal decline.
This implies that traders are not exiting but maintaining their positions, waiting for a stronger directional move.
The data also reveals that long positions continue to dominate over shorts, hinting at optimistic sentiment among derivatives traders. This trend has held for several sessions now, reinforcing the idea of building bullish momentum.
The majority of XRP holders are still in profit
Despite the token’s recent decline to $2.09, data shows that 80.2% of XRP’s circulating supply remains in profit.
This creates an interesting psychological scenario: holders may be tempted to lock in gains, but the continued volume and address expansion indicate that many are holding through the dip.
XRP’s price has retreated from a high of $2.22 earlier in the day, and the current pullback may suggest oversold conditions.
Trading volume is up 2.06%, now sitting at $2.89 billion, which reflects strong participation rather than a panic-driven sell-off.
Such steady engagement is notable during price downturns, as it often indicates investor confidence in future price recovery rather than reactionary exits.
Price drop contrasts with network strength
The recent price action, while negative in the short term, contrasts with the underlying network activity.
The simultaneous rise in wallet count and stable open interest suggests that XRP is being accumulated rather than offloaded.
These factors point towards long-term positioning rather than speculative hype.
If the current momentum continues, the token could see a shift in sentiment as both retail and institutional users appear to be engaging more deeply with the network.
This blend of usage and resilience often underpins sustainable price recoveries, especially when broader crypto markets remain uncertain.
Analysts are monitoring whether this dual momentum in spot and futures markets could drive XRP’s next breakout.
Should XRP reclaim recent highs and break resistance levels, it may validate the bullish positioning seen across on-chain and derivatives data.
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