XRP's price took a hit this week, dropping from $2.10 to $1.60, but here's the plot twist—on-chain data says otherwise. According to Glassnode, the number of addresses holding at least 1 XRP just hit a new ATH of 6.255 million as of April 7. That's not a coincidence.

The real story: while traders panic-sell, the network keeps growing. XRP wallets with non-zero balances climbed from 5.839 million at the start of 2025 to 6.366 million now. Compare that to January 2024's 4.9 million, and you're looking at 1.466 million new holders in just over a year.

Who's actually holding? 81% of active addresses own less than 500 XRP (mostly under 20 tokens). These retail players aren't dumping—they're accumulating. Analyst Ali Martinez flagged this as a serious strength signal: price volatility ≠ network weakness.

The disconnect is real: short-term price pain vs. long-term adoption gains. Whether this translates to price action depends on what happens next with Ripple's partnerships and regulatory clarity. But the base is definitely building.