XRP Whale Activity Surges as Network Sees Rise in Active Addresses

XRP has been experiencing a surge in whale activity and active addresses on its network, despite a weak momentum in the market.

According to Santiment's data, the number of wallets with over one million coins has increased by 32 since May, indicating that whales are flipping bullish on XRP due to growing use of the RLUSD stablecoin and expansion into tokenization, payments, and settlement.

This rise in whale activity is a positive sign for the network, as Santiment notes that 'stronger hands' are absorbing panic, replacing price-related hype with patience, and making future volatility more interesting for bulls.

However, this increased buying activity from whales has been matched by retail traders selling off their XRP holdings, resulting in a 29% drop in the network's market capitalization over the past three months.