Since the Ripple-SEC lawsuit began, many predicted the downfall of XRP. Despite its price plummeting to $0.10 from its all-time high, the cryptocurrency has staged a surprising comeback. Ripple’s native token XRP has now surged by 25% in a week, securing the third position among top-performing cryptocurrencies.
A significant factor fueling this rally is the surge in wallet growth. The number of non-empty XRP wallets is nearing 6.5 million, the highest in the network’s 12-year history. Over 638,000 new wallets were added in the first few months of 2025 alone, representing an 11% spike. This renewed interest from both retail and institutional investors is a bullish signal for XRP.
$XRP NEARS 6.5M WALLETS FOR THE FIRST TIME IN NETWORK HISTORY. $XRP Is Witnessing A Notable Surge In Adoption As The Total Number Of Non-Empty $XRP Wallets Approaches 6.5 Million A New All-Time-High For The 12+ Year-Old Network.
— CryptoWorld (@CryptoWorldd__) May 13, 2025
With Over 638,000 Wallets Added In Just The Few… pic.twitter.com/Mrdt8QP5Qq
Trading Activity Surge On Binance
XRP’s growing momentum is also evident in the trading activity on Binance. According to data from Cryptoquant, XRP’s Open Interest, which had declined from $1.5 billion to $530 million, is now showing signs of recovery. FundingVest, an on-chain analyst, suggests that short sellers are becoming more aggressive, but buyers remain steadfast, indicating a potential breakout.
XRP on Binance: Sellers Are Being Absorbed
— CryptoQuant.com (@cryptoquant_com) May 13, 2025
“Binance XRP data shows a market where aggressive selling meets strong absorption. This silent accumulation could be the early signal of a bullish breakout.” – By @Fundingvest
Full post ⤵️https://t.co/nz1KiwboPm pic.twitter.com/4fFpKP9SGt
Despite neutral funding rates, shorts are slowly building up while XRP’s price holds steady, signaling strong buyer absorption. This could serve as a precursor to a significant price rally.
Can XRP Hit $5 or Even $6?
According to Coinglass, XRP recorded $6.86 million in liquidations, with $3.59 million from long-term holders and $3.27 million from short traders. Despite the shakeout, XRP’s price has remained resilient, holding firm near $2.57.
Technical analyst MackAttackXRP identifies a bullish pennant pattern on the weekly chart, suggesting a potential move above $3.40, with further targets ranging from $5.00 to $6.00 if momentum continues. For now, all eyes are on XRP as it approaches the $3 mark, potentially setting the stage for a broader rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
