XRP Sees Surge in Wallet Activity Amid Price Jump

Ali Martinez, a well-known cryptocurrency analyst, recently highlighted a significant rise in the number of active XRP wallets, according to data from Glassnode.

This surge comes as XRP’s price has experienced a notable jump, increasing by more than 24% over the last week.

Martinez pointed out that active XRP addresses have surged by an astonishing 620% in just seven days, climbing from 74,589 to 462,650. This sharp increase follows a concerning trend observed earlier in the year, where active XRP wallets fell dramatically by 50%. From a high of 202,250 in early December, the number of active wallets dropped to just 101,169 by February 27.

Despite this drop in active wallets, XRP’s price has been on an upward trajectory. Between February 28 and March 2, its value rose from $1.99 to $2.05, a 25.48% increase. On March 2, news of Donald Trump’s approval of the U.S. strategic crypto reserve, which includes XRP alongside Bitcoin, Ethereum, ADA, and SOL, sparked a massive price surge of 34.74%, driving XRP to a high of $3.29.

However, this was followed by a sharp correction, with the price dropping by nearly 25% over the next two days. As of the latest data, XRP has regained some ground, rising 10.27% in the past 24 hours and trading at $2.51. The peak of this price movement was on March 2, when XRP saw its largest jump.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.