XRP Price Stability Questioned Amid On-Chain Analysis and Wallet Growth
- XRP price remains below historical ‘hallmark’ zones, indicating potential further decline.
- On-chain analyst Joao Wedson notes the altcoin has not yet reached a local price bottom.
- The XRP Ledger shows significant growth in small wallets, with about 5.66 million ‘shrimp’ addresses.
- Wallets with between 100 and 100,000 XRP have expanded to approximately 2.01 million.
- Large-holder wallets with over 100,000 XRP remain steady at around 32,054.
Recent on-chain analysis suggests that despite a period of stability, the XRP price may not have reached its local bottom yet as it trades below key historical levels. At the same time, there is notable growth in smaller wallet sizes on the XRP Ledger.
This expansion in smaller wallets indicates increased retail adoption, while limited movement among larger holders suggests potential market repositioning without significant whale influence on prices. (Source)
