On-chain data shows that the XRP blockchain has recently seen rapid portfolio growth and has overtaken giant networks such as Bitcoin and Ethereum.

XRP has been gaining more and more attention lately

According to data from an on-chain analytical company Saintlythe most popular cryptocurrencies have seen a significant augment in the total number of holders over the last few years.

“Total Holders” here refers to a metric that, as the name suggests, tracks the total number of non-zero balance addresses present on a given network.

When the value of this indicator increases, it may suggest that novel investors are joining the blockchain and/or elderly ones who sold earlier are buying out. This trend may also occur when existing users create multiple addresses for purposes such as privacy.

Generally speaking, all three of these come into play to some extent simultaneously as the Total Number of Holders increases, so it can be assumed that some net adoption of the cryptocurrency is taking place.

On the other hand, a decline in the indicator means that some investors have decided to exit the asset and are therefore cleaning their addresses.

Here is a chart showing the trend of total ownership of the four largest cryptocurrencies by market capitalization: Bitcoin, Ethereum, Tether, and XRP.

All of these coins seem to have gained a significant number of holders in the last two years | Source: Santiment on X

As you can see in the chart above, total ownership has increased dramatically across all four assets over the last few years. This naturally suggests that the cryptocurrency sector has seen a gigantic influx of users.

While Bitcoin, Ethereum, and Tether have seen a more or less steady uptrend over this period, XRP has recently shown a divergence as the benchmark for it has surged.

The chart shows that on October 18, the total number of holders began to retreat from the coin. Interestingly, the price of the asset only started to augment in mid-November, so it seems that it was this rapid adoption that helped build solid ground for the further development of the cryptocurrency.

In terms of the long-term trend, the most widely used asset is USDT, with its total number of holders increasing by approximately 66% over the last two years. Ethereum was second with 47% and XRP was third with 28%. Bitcoin was only slightly behind, with an augment of 27%.

While XRP has held its own in terms of adoption rate, the network is still the smallest among these giants, with the number of investors currently standing at 5.75 million.

XRP price

XRP has seen a slowdown along with the rest of the cryptocurrency sector as its price continues to hover around $2.17.

Looks like the price of the coin has been stuck in sideways movement recently | Source: XRPUSDT on TradingView

Featured image from Dall-E, Santiment.net, chart from TradingView.com