XRP's Millionaire Investors Defy Bearish Market Momentum

XRP's millionaire investors are showing no signs of selling off their assets, despite the altcoin's price plummeting by 29% in recent times. In fact, according to Santiment's data, XRP Ledger has added a staggering 32 new millionaires in just three months.

This growth in millionaire investors is particularly noteworthy given the broader bearish momentum in the market. The blockchain intelligence platform also reported that XRP's price briefly touched its major demand area of $1 before recovering slightly.

The surge in activity on XRP Ledger can be attributed to seasoned investors adding more to their stashes, rather than a wave of new retail interest. This discrepancy suggests that XRP is being viewed as a long-term investment vehicle by many.