Active XRP Wallets Skyrocket Following Recent Days’ Surge

Ali Martinez, a crypto analyst and trader, has shared a chart from on-chain data analysis company Glassnode. It shows a massive increase in the number of active XRP wallets on the network. This surge occurred while the XRP price has risen by more than 24% over the past week.

According to Martinez’s post on X, the number of active XRP addresses has increased by 620% in the past seven days, from 74,589 to 462,650. This happened after a report was released earlier about a massive 50% drop in active XRP wallets between early December and late February. The number of active wallets was still 202,250 in December, but had dropped to 101,169 by February 27, according to Glassnode data.

During this period, the third largest cryptocurrency by market capitalization has seen an increase of about 25.48%. On February 28, the price was still $1.99 and it climbed strongly to then fall back to $2.48 at the time of writing. On March 2, XRP reached a peak of $3.29, an increase of 34.74%, after Donald Trump approved the establishment of the US strategic crypto reserve, which includes Ripple’s native token along with Bitcoin, Ethereum, ADA and SOL.

The rapid rise of the token was however followed by a drop of almost 25% within 48 hours. In the past 24 hours, XRP has made another jump of 10.27%. The chart shared by Ali Martinez shows that the peak occurred on March 2, the day XRP rose by 34.74%.

Transaction of 95 million XRP noticed

In addition, the well-known analyst Whale Alert, who tracks large cryptocurrency transactions, has noticed a massive XRP withdrawal on the trading platform OKX. An anonymous wallet has moved 95,254,697 XRP from this exchange, which amounts to an impressive $235,584,856 in fiat value.

However, data from analysis platform Bithomp shows that the receiving wallet is linked to OKX itself, meaning it is an internal transaction. In recent days, Whale Alert has repeatedly registered large XRP transactions between anonymous wallets and major exchanges such as Coinbase, OKX, Bithumb, and Upbit.