More than 8 million wallets now hold XRP — a milestone that comes even as the token’s price sits well below where it stood less than a year ago.
A Market Still Chasing Its PeakMost of those wallets belong to retail holders with relatively small balances. A much smaller group controls the bulk of the supply.
Open interest stood at $2.50 billion, a sign that traders are not just moving in and out quickly but holding positions.
Binance led all exchanges in futures open interest, posting $140 million. Upbit followed at $111 million, with Coinbase close behind at $85 million.
That spread across both global and US-based platforms points to broad participation rather than activity concentrated in one region.
Volume Climbs Across BordersXRP’s market cap sat at $82 billion during the same period. The numbers came on a day when broader crypto markets were also moving.
Some believe that the high trading volume was an indication of a possible buy pressure before a bigger move. Others attributed the high volume of futures to the large weight of the derivative instrument as compared to spot trading. This means that the high trading volume of futures might not have represented the same conviction as spot trading.
Retailers Lead, Institutions MonitorThe wallet analysis of XRP indicates that the cryptocurrency network is still dominated by ordinary people instead of big organizations. Millions of wallets have little XRP holdings while the few wallets dominate the majority of XRP supply.
The data indicates that such a distribution model has remained the same despite the fall in price since its all-time high last year.
With the high volume of trading, increasing wallets, and stagnant prices, analysts are wondering how XRP will proceed in the future.
Featured image from Meta, chart from TradingView
