According to crypto analyst Ali Martinez, citing Santiment data, whales have accumulated more than 1 billion XRP, which is over $2 billion, in the past two days. This huge buying spree suggests the growing interest in XRP despite the volatility in the broader cryptocurrency market.

According to analysts, such a trend by these whales indicates increasing confidence in the long-term potential of XRP. In addition, there has been a significant increase in the number of wallets holding XRP tokens.

XRP Wallets Growth Suggests Expanding Adoption and User Interest

According to data from Santiment, the number of XRP wallets has grown by 58,000 since the beginning of 2025, a growth rate of 1%. This makes XRP one of the top-performing cryptocurrencies in terms of adoption.

This consistent growth in the number of wallets contrasts against broader crypto markets that have seesawed dramatically in the past few months. Santiment data also showed the following increases in wallet counts for top assets since the start of the year:

• Bitcoin (BTC): +102K wallets

• Ethereum (ETH): +645K wallets

• XRP: +58K wallets

• Cardano (ADA): +2.8K wallets

Despite the fluctuating prices of these assets, the consistent growth in wallet holders for XRP proves that the interest in its network remains strong and consistent. This results from the continued developments in the Ripple ecosystem and its strategic partnerships.

It also proves that users and investors remain very confident about the long-term potential of this crypto asset and aren’t worried by short-term market fluctuations.

Ripple Transfers $682M in XRP to Unknown Wallet

In a related development, on-chain data showed that Ripple recently transferred $682 million worth of XRP to an unknown wallet. This transfer represents the first significant XRP transaction by Ripple since December.

Recently, Brad Garlinghouse, CEO of Ripple, confirmed that the company holds over $100 billion in XRP, which is of great importance in the valuation of the company. Such a huge reserve of XRP tokens shows that Ripple’s XRP transactions would significantly influence the growth of its ecosystem in the coming years.

The coin’s daily price charts have been bullish since this transfer. The price is recovering after establishing the $2.26 price level as support. As long as this support holds, analysts predict that a bullish reversal is possible.

Ripple’s High-Profile Partnerships

Ripple has attracted attention lately after its executives’ recent partnerships and high-profile meetings. On January 6, 2025, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty joined President-elect Donald Trump for a private dinner.

The meeting could be a means to end the long-standing legal case between Ripple and the US SEC once Trump is sworn in as the next US president. The charges by the SEC that Ripple had issued XRP as an unregistered security have negatively impacted the company’s operations.

Analysts believe the case’s outcome will define how US regulators treat digital assets. However, a court victory for Ripple could create greater clarity regarding the regulatory treatment of cryptocurrencies.

XRPL Upgrade

Meanwhile, RippleX, the development arm of Ripple, has announced that up to 80% of servers on the XRP Ledger (XRPL) will run on the new software version, v2.3.0. The update brings other new features onboard the XRPL.

The new software version brings eight significant amendments, including multi-purpose tokens (MPTs) for institutional DeFi applications. These amendments will further enhance the flexibility and functionality of the XRPL, positioning it as a leader in the evolving DeFi space.

RippleX notified operators to upgrade to the new version to avoid disruptions. In addition, this upgrade brings in important stability fixes and novel features, such as XLS-70 Credentials for pre-authorizing payments and XLS-33 multi-purpose tokens for better token management.

At the time of writing, on-chain data shows that crypto asset trades at $2.39 after rising by 5% within the last day.