XRP Hits New Record of Large Wallets and Active Users Amid Potential Bullish Signs

The on-chain analytics reveal that the XRP network has recently seen a surge in activity from large investors, with wallets holding over 1 million coins reaching a new record of 2,708. This growth in major stakeholder activity, coupled with a substantial increase in daily active addresses, signals heightened network engagement. These developments suggest a positive sentiment among significant investors and a broadening of network usage, which could potentially influence XRP's price trajectory.

The recent data shows a notable increase in the number of whale and shark wallets, indicating that large investors are accumulating or holding more XRP than before. The rise in daily active addresses further supports the notion of increased network utility and engagement from smaller investors. The combination of these factors often precedes a bullish move, reflecting growing confidence and activity within the XRP ecosystem. However, the recent price correction from over $2.33 back to around $2.20 indicates some short-term volatility that traders should note.