The number of XRP wallets with balances greater than zero has seen a significant increase of 26% since January 2023, according to a recent update from Santiment. This surge indicates a substantial rise in the number of crypto enthusiasts, investors, and users holding XRP, with the total reaching an impressive 4.95 million. This growth not only highlights the expanding XRP community but also suggests active engagement within the XRP ecosystem. The network has seen considerable growth in the first week of 2024, building on the momentum established in the previous year.
Interestingly, this growth is not exclusive to XRP. Santiment’s data also shows a noticeable increase in the user base of Bitcoin adopters, suggesting a broader trend of growing interest in various crypto projects. The number of non-zero Bitcoin wallets has reached 52.63 million, marking a significant 32% growth over the past year, surpassing the growth rate observed for XRP during the same period.
In a surprising development, WhaleAlert reported a substantial transfer of 100 million XRP, valued at $56.35 million, initiated by Ripple to an undisclosed recipient. This recipient, unaffiliated with Ripple, has been a consistent beneficiary of Ripple’s transactions, accumulating over 112 million XRP since activation on October 2 of the previous year. Following this transfer, the XRP market saw a significant surge, resulting in a 5% increase in the price chart. However, this bullish momentum was short-lived, as the price quickly returned to pre-surge levels within a few hours.
In recent months, the XRP price has seen a significant recovery, showcasing a strong bullish trend that pushed its value above the critical support level of $0.5500. Despite a challenging market phase and struggles against bearish trends, XRP has dipped below the $0.60 mark, currently standing at $0.554, marking a 2.75% decrease over the last 24 hours. However, it maintains a substantial position in the cryptocurrency realm, ranking as the 5th largest market cap at $30 billion. The 24-hour trading volume has surged by 122% to $1.71 billion, indicating increased trading activity.
Looking ahead, April 2024 holds significance for XRP, as major U.S. asset management firms, including Blackrock, are reportedly preparing to submit applications for XRP Exchange-Traded Funds with the Securities and Exchange Commission (SEC). The outcome of these developments could be pivotal for XRP’s future trajectory in the cryptocurrency market. If approved, the XRP price could quickly reach $1 and even further to its all-time highs this year.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | WhaleAlert, Ripple, Blackrock, XRP Scan, Santiment, Bithomp, Securities and Exchange Commission |
| Currencies | XRP, Bitcoin |
| Securities | None |
