TL;DR

XRP wallet count reaches 7.2M, showing strongest user growth since late 2024. Whale-to-exchange transfers dropped 94%, suggesting holders are not preparing to sell. Double bottom breakout targets $4.40, with resistance flipped to support near $2.90.

Network Growth Reaches New High

The total number of XRP accounts has reached 7.2 million, the highest ever recorded. Data from CryptoQuant shows steady growth in wallet creation since mid-2024, with no signs of slowing. The increase reflects stronger user participation and rising interest in the network.

Source: CryptoQuant From August 2024, account growth has accelerated. At that time, there were fewer than 5.8 million wallets. Since then, more than 1.4 million new addresses have been added. The trend became more visible around November, matching a period of increased trading activity.

Meanwhile, XRP’s price touched $3.65 before easing slightly to around $3.50. Over the past week, the asset has gained 21%. During this rise, activity from large holders has shifted. On July 11, 43,575 XRP was moved from major wallets to exchanges. By July 21, the same metric dropped to 2,339 XRP, a decrease of over 94%.

Source: CryptoQuant This drop in exchange transfers suggests large holders are not moving tokens to sell. Less supply moving to exchanges during a price increase can reflect a tighter market, with fewer sellers active at current levels.

Technical Pattern Signals Possible Upside

According to a popular analyst, a double bottom formation has formed on the 4-day price chart, with a breakout above the $2.90 level. The pattern suggests the current move could extend toward $4.40, based on the measured distance from the support base to the neckline.

The price is now trading above the former resistance, which may act as new support. Traders are watching to see if this level holds during pullbacks.

New Wallet Creation Slows Despite Growth

Even as total wallets increase, the number of new addresses being created has declined. As we recently reported, data shows just 1,598 new wallets, among the lowest in recent months.

Finally, lower market entry might constrain immediate demand, and will be amplified in the case of reduced momentum. Nevertheless, the general growth in wallets has been preserved, demonstrating an increase in users interacting with the XRP over time.