After a weak start to the year, XRP’s price has steadied, but fresh on-chain analysis indicates the local bottom may lie lower. On-chain analyst Joao Wedson notes that XRP has not entered the early rebound phase, based on the Number Of Days Spent At A Profit metric, which tracks how long current holders remain in profit relative to past price levels. Historically, this indicator spikes when profits are heavily concentrated at higher price levels, yet XRP still trades well below those zones, implying more downside could unfold in the near to mid-term.
Santiment data show a notable expansion of the XRP Ledger across wallet sizes, driven largely by smaller wallets. Shrimp wallets with less than 100 XRP have grown to about 5.66 million addresses, while wallets holding 100 to 100,000 XRP number around 2.01 million. In contrast, large wallets with more than 100,000 XRP total roughly 32,054, suggesting limited whale-driven price influence and a retail-driven network expansion.
With the pattern of wallet growth not aligning with strong upside pressure from whales, the case for a lower local bottom remains plausible. As of now, XRP trades around $1.44, down about 0.4% over the past 24 hours, underscoring the caution that further downside could precede any meaningful recovery.
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