$XRP Ledger adoption continues to grow in the cryptocurrency space as addresses with 100,000 XRP and above have hit a new high. As highlighted by market intelligence platform Santiment, 32,054 wallets contain over 100,000 XRP, which signals active utility on the ledger by institutional holders.
Notably, holders with over 100,000 XRP are whales, large investors or early adopters of XRP. While the 32,054 wallets might appear small, these holders likely control a huge percentage of the XRP supply. The growth in the number of wallets with over 100,000 XRP indicates capital concentration among whales and institutional holders.
Meanwhile, wallet distribution shows that mid-tier addresses, which contain between 100 and 100,000 XRP, now stand at 2.01 million. Although these investors hold a sizable amount of the coin, they are not classified as whales. Overall, the total number of wallets across all tiers indicates that the XRP ecosystem is expanding. The massive concentration of capital within the over 32,000 wallets can influence the asset’s price direction in the crypto market.
$XRP Ledger recently set a new 13-year milestone. Over 7.7 million wallets have at least one XRP and not a zero balance. The interesting part is that the users are not leaving the coin dormant but actively trading with it.