XRP holders surpass 7.7 million for the first time as the altcoin's price rises by 14%, driven largely by South Korean retail investors.
The number of XRP holders has surpassed 7.7 million for the first time in 13 years, according to analytics firm Santiment. This milestone coincides with a notable 14% increase in the altcoin's price over a two-day period.
On March 16, the XRP Ledger recorded a peak of 46,767 active addresses, marking a five-week high. The price of XRP reached approximately $1.5 during this surge, while trading volume soared over 60% to $5.2 billion. The market capitalization for XRP now stands at $92.2 billion, overtaking BNB's market cap of $90.9 billion.
Open interest in XRP on Binance has climbed to 349 million, up from 222.79 million in October 2025, despite the current price being 37% lower than it was then. This indicates that traders are opening new positions as they anticipate a market recovery, contrasting with the earlier trend of deleveraging.
Retail Interest Fuels Growth
The surge in XRP's popularity is largely driven by retail investors from South Korea, particularly those aged 40-50, as they return to the crypto market following a recent rally in the stock market. According to Ryan Yoon from Tiger Research, these investors view XRP as a familiar asset, which has led to increased trading activity.
In South Korea, XRP has captured significant trading volume on major exchanges like Upbit and Bithumb, accounting for nearly 19% of all transactions. Over the last day, trading volume across five regulated exchanges in the country exceeded $621 million, as funds shift from declining foreign stocks back into cryptocurrencies.
ETF Investments Boost Momentum
Investments in XRP-based exchange-traded funds (ETFs) are also contributing to the positive momentum. Products from firms such as Canary, 21Shares, and Grayscale have attracted a total inflow of $1.2 billion since their launch in mid-November, with total assets under management estimated at $1 billion, representing about 1.1% of XRP's issuance.
In February, Ripple and XRP Ledger developers announced plans to introduce new decentralized finance (DeFi) options to enhance the utility of XRP as a settlement asset.
