According to Santiment’s latest report, XRP has reached a new record high with over 2,000 wallets holding more than one million XRP. This significant increase in millionaire addresses indicates a potential bullish trend for the altcoin, causing its price to surge to $0.5715 today. The intriguing aspect is that this number is close to the previous record set in June 2023.
Looking at the chart included in this post, it’s clear that XRP is close to making history by reaching a new milestone: just one wallet away from having 2,014 millionaire holders. It’s important to note that the last time XRP experienced such a significant increase in millionaire addresses, it was followed by a remarkable price jump. The token nearly doubled in value, rising from around $0.5 per token to almost $1 within a month.
In June 2023, market participants looking back may note the substantial price surge following news that a judge declared XRP as not a security in the SEC vs. Ripple lawsuit. The connection between the growth in wealthy investor accounts and subsequent price spikes invites thought-provoking queries regarding the inner workings of the XRP market.
Observing the complex relationship between millionaire-level participation, significant player moves, and XRP price fluctuations, it’s worth keeping a close eye on the XRP market as potential correlations unfold.
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2024-04-23 12:02