The cryptocurrency XRP is demonstrating impressive dynamics, breaking multi-year records in network activity and market performance. According to recent data from the analytical platform Santiment, the project’s ecosystem has entered a phase of unprecedented growth, spanning both the retail sector and institutional instruments.
Network Records and Market Re-ranking
For the first time in the project’s 13-year history, the number of unique XRP holders has exceeded the 7.7 million mark. Activity peaked in mid-March: on the 16th, the number of active addresses in the XRP Ledger (XRPL) jumped to a five-week high of 46,767.
This surge in interest immediately impacted quotes and market status:
- Price: The asset gained 14% in two days, stabilizing around $1.5.
- Trading Volume: 24-hour volume rose by 60%, reaching $5.2 billion.
- Market Cap: Valued at $92.2 billion, XRP’s market value allowed it to surpass BNB ($90.9 billion), climbing higher in the global cryptocurrency rankings.
The Open Interest Phenomenon: Traders Bet on Growth
The situation in the derivatives market deserves special attention. On the Binance exchange, Open Interest (OI) rose to 349 million XRP. For comparison: in October 2025, when the price was significantly higher ($2.39), this figure was only 222.79 million XRP.
Analytical Insight: The current 59% growth in OI at a lower price suggests that market participants are not just taking profits, but are actively opening new long positions. This contrasts sharply with the deleveraging trend seen in early 2024.
The South Korean Driver: Why the “40+ Generation” Chooses XRP
A key source of liquidity has unexpectedly become the South Korean retail sector. According to Tiger Research, the bulk of buyers consists of investors aged 40 to 50.
Key Factors of the Korean Rally:
- Brand Recognition: For the local community, XRP remains the “most familiar” volatile asset.
- Stock Market Rotation: Amidst stagnation in U.S. and Korean equity markets, investors are shifting capital from stocks in search of higher returns.
- Exchange Dominance: On the country’s top platforms—Upbit and Bithumb—XRP accounts for nearly 19% of all trading volume. The total trading volume on Korea’s five regulated exchanges exceeded $621 million in 24 hours.
Institutional Momentum: The Success of XRP ETFs
In addition to the retail hype, the asset is receiving strong support from the U.S. stock market. Since the launch of spot XRP ETFs in mid-November (from giants like Grayscale, Bitwise, and Franklin Templeton), the sector has shown steady inflows.
- Capital Inflow: Over the last 4 months, $1.2 billion has flowed into these funds.
- Assets Under Management (AUM): Collectively, issuers hold approximately $1 billion in XRP, representing about 1.1% of the total XRP supply.
Summary
The combination of record network activity, the loyalty of Asian retail, and the influx of institutional money via ETFs creates a solid foundation for XRP to further strengthen its market position.
