XRP nears $6 as wallet count tops 6.5M

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Over 638,000 new wallets added in early 2025.WisdomTree report backs XRP as altcoin fit for crypto portfolios.Analysts predict breakout with targets of $3.40 to $6.00.Ripple’s XRP has rebounded sharply in 2025, reclaiming its position as one of the top three cryptocurrencies by market capitalisation.Once written off during the depths of the SEC lawsuit, the token has staged a powerful comeback, rallying 25% this past week and hitting a price of $2.57.Its latest rise is fuelled not only by technical momentum but also by on-chain data that shows rising interest among both retail and institutional investors.In the first few months of 2025 alone, XRP added more than 638,000 new wallets, an 11% increase.This pushed the total number of active XRP wallets to near 6.5 million—marking the highest point in the network’s 12-year history.This rise in user adoption is coinciding with a renewed focus on XRP as a credible alternative to Bitcoin in portfolio construction, supported by recent analysis from leading asset manager WisdomTree.Wallet data signals rising user engagementThe dramatic uptick in wallet creation comes after years of regulatory headwinds that had suppressed activity on the Ripple network.The growth in wallets is now being interpreted by analysts as a return of confidence in XRP’s long-term utility.While speculation has always played a role in crypto movements, the consistent increase in active, non-empty wallets indicates a broader shift toward sustained user interest.At the same time, WisdomTree—a global asset manager overseeing more than $100 billion in assets—released a report naming XRP as the only altcoin that aligns well with Bitcoin in a diversified crypto portfolio.This institutional endorsement is seen as a key driver of renewed investor interest, especially as large holders typically seek coins with longer-term fundamentals and regulatory clarity.Binance futures data highlights strong buyer interestBeyond wallet statistics, trading data from Binance is also showing bullish momentum. XRP futures open interest, which had fallen to $530 million from a high of $1.5 billion, is rising again.This metric tracks the total value of open derivative contracts, and its growth typically signals that traders are positioning for further volatility.While some traders are taking short positions, on-chain analysts such as FundingVest (via Cryptoquant) suggest that these positions are being absorbed by buyers.This dynamic could point to an upcoming breakout, particularly if resistance levels continue to weaken under buying pressure.Funding rates have returned to neutral territory, which typically precedes major price shifts as leverage resets.Liquidation patterns suggest market strengthCoinglass data supports the thesis of building bullish strength. XRP saw $6.86 million in liquidations over the past few sessions, with long and short traders contributing nearly equally to the total.Notably, long-term holders accounted for $3.59 million, while short-sellers made up $3.27 million.This even split indicates a battle between bulls and bears, but XRP’s ability to hold above $2.50 even during volatility suggests underlying resilience.Technically, analysts are watching a bullish pennant pattern forming on XRP’s weekly chart. MackAttackXRP, a well-known chartist, points to potential targets of $3.40 and $3.60 if the breakout confirms.More aggressive price targets in the $5.00–$6.00 range are also circulating, assuming broader market sentiment remains positive.XRP is currently trading at $ 2.63 price, up by almost 4% in 24 hours, is viewed as part of a steady climb rather than a flash rally.Source: CoinMarketCapThe $3 mark could be reached as early as the end of this week if momentum holds, though future gains will depend on whether buyer demand remains strong enough to overcome key resistance zones.Share this articleCategoriesTagsSource link