Knowledge means that whereas the market panicked through the newest XRP dip, whales holding at the least 1 million XRP elevated in quantity.
53 Extra Wallets Holding 1M+ XRP
For context, XRP noticed a main worth drop over the weekend, falling from $3.13 on Friday, Jan. 31, to $2.56 by Sunday, Feb. 2. This decline of 17.9% represented a significant correction, with essentially the most extreme drop of 10.34% occurring on Feb. 2.
This 10.34% crash marked XRP’s largest intraday loss since Dec. 9, 2024, and the most important one to this point this yr. Regardless of the panic-driven sell-off, knowledge confirms that giant buyers took benefit of the decrease costs.
Market analyst Dom noticed a notable improve in wallets holding at the least 1 million XRP instantly after the crash. On Feb. 3, simply at some point after XRP’s largest single-day drop since Dec. 9, 2024, 53 new wallets with at the least 1 million XRP emerged.
Let’s additionally have a look at wallets holding over 1M $XRP (at present 2.3M USD)
Up solely over the past yr
See that final spike? Feb third, the day after the dump…
53 new wallets holding over 1M $XRP added in a single day pic.twitter.com/Ik0AE3YMOw
— Dom (@traderview2) February 7, 2025
XRP Pockets Development Outpaces Ethereum and Bitcoin
Additional, the analyst confirmed that the constant rise in massive XRP wallets aligns with a much wider accumulation development the market has noticed all through the previous yr. In line with the info, not like within the Bitcoin and Ethereum markets, the place pockets development has been blended, XRP wallets holding vital quantities have steadily elevated.
Citing CoinMetrics knowledge, Dom revealed that wallets holding at the least 100 XRP have been rising at an accelerated tempo. Over the past yr, the variety of these wallets surged from below 1.6 million in March 2024 to over 1.74 million by February 2025, representing a rise of greater than 140,000.
XRP Wallets with 100+ XRP | CoinMetrics
Nonetheless, Bitcoin wallets inform a unique story. Addresses holding greater than 0.001 BTC declined over the previous yr, dropping from over 24.6 million in March 2024 to beneath 23.9 million in the present day. In the meantime, Ethereum wallets holding at the least 0.1 ETH have grown extra slowly, rising from below 5.16 million to almost 5.22 million in the identical interval.
Wallets holding better than 0.001 $BTC over the past yr (1st pic)
Wallets holding better than 0.1 $ETH over the past yr (2nd pic) pic.twitter.com/eXGKhk7grt
— Dom (@traderview2) February 7, 2025
One other main distinction is that XRP pockets development has remained constant, whereas Ethereum pockets development has been irregular. Notably, wallets holding at the least 0.1 ETH noticed a peak above 5.28 million in November 2024 earlier than dipping beneath 5.2 million earlier this yr and at the moment are recovering.
For context, this exhibits that XRP buyers have been steadily accumulating, whereas Ethereum holders have been extra reactive to market fluctuations. Dom careworn that this sample of regular development can be evident with wallets holding at the least 1 million XRP.
Order E book Evaluation Suggests Potential Bounce
Past pockets development, XRP’s order e book knowledge reveals attention-grabbing dynamics. Dom famous that inside a ten% worth vary, XRP not too long ago displayed a bid skew exceeding 10 million tokens on Coinbase. This implies there have been considerably extra purchase orders than promote orders inside this worth vary, indicating robust demand.
$XRP orderbook evaluation
Inside 10% of worth, XRP simply flashed over a 10M bid skew on Coinbase
We have seen this 5 instances over the past 2 months (white packing containers)
Every time it is produced at minimal a 23% bounce pic.twitter.com/PKRFv8fnpB
— Dom (@traderview2) February 7, 2025
This sample has appeared 5 instances up to now two months, and every occasion has resulted in at the least a 23% worth bounce. If historical past repeats, XRP may surge to about $2.85 from its present stage of $2.32. Nonetheless, Dom careworn that whereas purchase strain is clear, short-term worth actions stay topic to broader market circumstances.
