In the last two days, the altcoin's price surged by 14%, while trading volume skyrocketed by 60%.
The number of XRP holders has exceeded 7.7 million for the first time in 13 years, as noted by analysts at Santiment.
👫 XRP Ledger now has more than 7.7M holders (non-empty wallets) for the first time in its 13+ year history, as its usage continues to grow.
— Santiment (@santimentfeed) March 17, 2026
📈 Additionally, Monday closed with a 5-week high of 46,767 active addresses as $XRP's price jumped +14% in 48-hour span, breaching $1.60. pic.twitter.com/SKTO5L4W6o
On March 16, the number of active addresses on the XRP Ledger reached a five-week high of 46,767. Amid this surge in activity, the altcoin's price rose by 14% over the past two days, trading around $1.5 at the time of writing.
Trading volume for XRP increased by over 60% in the past 24 hours, reaching $5.2 billion. The coin's market capitalization hit $92.2 billion, surpassing BNB, which has a market value of $90.9 billion.
Source: CoinGecko.
Open interest on Binance rose to 349 million XRP, compared to 222.79 million in October 2025 when the altcoin was trading at $2.39. This marks a 59% increase, even though the current price is 37% lower.
Traders are not closing positions but are opening new ones in anticipation of a recovery, contrasting with the deleveraging period that defined the market in January and February.
What’s Driving XRP’s Growth?
The primary driver behind this surge is retail investors from South Korea, mainly aged 40-50, according to DL News.
“In the wake of the recent stock market rally, they are returning to crypto and making significant bets on XRP,” noted Ryan Yoon, an analyst at Tiger Research.
This is reflected in trading volumes on local exchanges: on Upbit and Bithumb, the altcoin leads the spot market, accounting for nearly 19% of all transactions on both platforms.
In the past day, trading volume for the altcoin across all five regulated exchanges in the country exceeded $621 million.
According to Yoon, the token associated with Ripple has a reputation as a volatile asset in Korea. However, for middle-aged traders, it remains the “most familiar,” which fuels “explosive trading activity.”
A significant portion of funds is coming from investors exiting declining foreign stocks.
“The increase in XRP volumes on Upbit and Bithumb is a result of a massive liquidity shift from Korean and American stock markets back into cryptocurrencies. Stocks have entered a consolidation phase, and those who held capital on the sidelines are now seeking new volatility,” explained the expert.
Momentum from ETFs
Market participants are also continuing to invest in spot exchange-traded funds based on XRP. Products from Canary, 21Shares, Grayscale, Bitwise, and Franklin Templeton launched in the U.S. market in mid-November.
Over the past four months, the total inflow into these instruments reached $1.2 billion. The total assets under management are estimated at $1 billion—1.1% of XRP’s issuance.
Source: SoSoValue.
As a reminder, in February, Ripple and XRP Ledger developers introduced a plan to implement new DeFi options in the network, aimed at enhancing the utility of the native token as an intermediary and settlement asset.