XRP Ledger Sees Significant Increase in Active Wallets
According to blockchain analytics company Santiment, there has been a surge in interest in the XRP token as the XRP Ledger recently reached a new milestone in the number of active wallets on its network. This increase in adoption comes as XRP gains attention due to discussions about a potential spot ETF and optimistic predictions by analysts.
XRP Ledger Doubles Adoption Numbers in Two Years
Santiment revealed that there are now 5.02 million individual wallets on the XRP Ledger holding more than 0 XRP. This is the highest number of holders in the past 10 years, indicating a significant rise in adoption levels. The data also shows that the number of XRP holders has doubled since February 10, 2021, and tripled since May 29, 2019.
The XRP Ledger’s adoption could continue to grow in the future, especially if the ongoing court case between Ripple and the US Securities and Exchange Commission (SEC) is settled. A resolution to the case, even with a fine imposed on Ripple, could lead to increased price and adoption of XRP.
Furthermore, the introduction of spot exchange-traded funds (ETF) for cryptocurrencies like XRP could also contribute to higher numbers on the XRP Ledger. However, an XRP spot ETF would require certain conditions to be met, including settling the SEC v. Ripple lawsuit and introducing XRP future ETF on a regulated trading platform.
XRP Price Overview
Currently, XRP is trading at $0.53, experiencing a slight decline of 0.1% in the last day. Over the past weeks, XRP has seen a downward trend with declines of 3.6%, 7.0%, and 15.5% in the last seven, 14, and 30 days, respectively.
Hot Take: XRP Adoption Grows Amidst Potential Catalysts
The XRP Ledger’s significant increase in active wallets is a positive sign for the adoption of the XRP token. Factors such as the settlement of the SEC v. Ripple lawsuit and the introduction of an XRP spot ETF could further drive growth in the number of XRP holders. However, it remains to be seen how these potential catalysts will play out and whether they will result in a sustained upward trend for XRP’s price and adoption.
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