The number of wallets on the XRP Ledger holding significant amounts of tokens has reached a new high, indicating strong investor accumulation. XRP price is currently hovering around $1.45 as it attempts a technical recovery, aiming for a key resistance level near $1.4610 after bouncing from support.
On-chain data from the blockchain analytics platform Santiment suggests that XRP Ledger wallets holding at least 10,000 tokens have reached a new record of 332,230 addresses. This marks a consistent long-term accumulation trend among large wallets since mid-2024.
The number of these wallets temporarily declined by over 4,500 between February 6 and February 8, coinciding with a broader market selloff. The count has since fully recovered and moved to new highs, signaling investor confidence.
At the time of writing, XRP was trading at approximately $1.45 with a daily trading volume of $3.06 billion and a market capitalization of $89.80 billion. The asset slipped 0.57% over the past day but continues to hold above important support zones.
Technically, XRP found support near $1.4180 and has broken above the $1.4250 and $1.4320 resistance levels. The price is currently trading above the $1.4350 level and the 100-hour Simple Moving Average.
XRP faces selling pressure near $1.4550 and resistance near $1.4610, which is a 61.8% Fibonacci retracement level. A breakout above this level could propel the price toward $1.50 and further to $1.520 in the short term.
Failure to break above $1.4620 could see XRP reversing toward support at $1.440. Important lower supports remain at $1.4320 and $1.4180, with a breakdown potentially exposing the price to declines toward $1.4050.
