Recently, the massive increase in real wallets holding the digital currency XRP reached a remarkable 5.2 million. The XRP group has accomplished something very important.
The on-chain data company Santiment announced this important event. It shows how famous and useful XRP is becoming in the world of cryptocurrencies.
They used Santiment’s data to look at the rise in non-empty wallets for the top cryptocurrencies over the last six months and were amazed to see a 7% rise in the Ripple community. A lot of new people are using and investing in Ripple because of this rise. This makes it a more renowned currency.
XRP Ecosystem Thrives
Service providers for the Ripple Ledger say that there are now an impressive 5,183,760 users on the system. All together, these accounts hold a remarkable 59,778,941,576 Ripple, which shows how active the Ripple community is. The fact that only 1,939 addresses have no XRP balance at all is a remarkable sign of how involved and involved people are.
The Ripple ecosystem is buzzing with excitement. Brad Garlinghouse, CEO of Ripple, praised the rise in community-led events like the XRP Gold Coast event in March and the planned XRP Las Vegas and XRPL apex gatherings. More native features are being added to projects built on the Ripple Ledger, which makes Garlinghouse even more excited. This is a clear sign that momentum is shifting in favor of the digital currency.
Even though everyone is positive, the latest changes to the Ripple Ledger are still being closely watched by experts. Based on what Santiment found, there was a clear rise in the number of idle tokens being used at the beginning of May. The last time XRP’s value went up was on April 13, right before a significant price drop that made it lose 16% of its worth.
Many people think that the recent movement of old coins may be a plan by major players to take advantage of the slow market. This is different from past trends. Since the rise in May, prices have been slowly going back down. Open interest on exchanges hit $483.4 million on May 2, which was the highest amount in three weeks. It hasn’t been this high since April 13.
